Parkdale Road
El Mirage, CA 92301
40.00 acres | #OC18199737
Description
OPPORTUNITY ZONE Area. More information: https://selectsbcounty.com/major-initiatives/opportunity-zone.
If you are looking for a lucrative investment opportunity with significant tax benefits, you may want to consider this 40 AC parcel located in an Opportunity Zone area. According to the IRS, Opportunity Zones are economically distressed communities that offer tax incentives to investors who reinvest their capital gains in Qualified Opportunity Funds (QOFs) that invest in these areas. Some of the tax benefits include:
- Temporary deferral of taxes on previously earned capital gains until December 31, 2026 or until the QOF investment is sold or exchanged, whichever is earlier .
- Basis step-up of previously earned capital gains invested in QOFs for at least 5 years (10% increase) or 7 years (15% increase).
- Permanent exclusion of taxable income on new gains from QOF investments held for at least 10 years.
This parcel has many attractive features that make it a prime candidate for development and growth. It is square in shape and flat, making it easy to build on. It has water rights and 50% mineral rights, which are valuable assets that run with the land. It lies along the southern edge of the approved High Desert Corridor (HDC), a 50-mile expressway that will connect Palmdale and Apple Valley with eight vehicle traffic lanes and two high-speed rail lanes. The northern portion of the parcel is adjacent to an on/off ramp site and a train stop for passengers, which will increase accessibility and traffic flow. The HDC project is expected to boost economic activity, create jobs, and enhance mobility in the region. The site also sits atop 2000+ acre feet of water (annually producing per CSUF Study), which is a scarce and precious resource in California. Electricity and natural gas lines are nearby, providing essential utilities for development.
This is a rare opportunity to invest in a property with immense potential upside growth and tax advantages. Don't miss this chance to be part of an innovative community development program that aims to revitalize distressed areas and create long-term value for investors.
Property Details
- Lot DescriptionCornerLot, Level, RectangularLot, StreetLevel
- ViewMountains
Measurements
- Acres40
Construction Details
- Property TypePurchase
Utilities / Energy Details
- Utility SourceSeeRemarks
Community and Neighborhood Details
- CountySan Bernardino
Financial Details
- Original List Price$1,999,000
Other
- MLS #OC18199737
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Gregg Cochran (#SCOCHGRE)
Listing Office: Gregg Cochran, Broker (#J01805)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
