$1,499,000
Active MLS # OC18199737 | Listed by Gregg Cochran with Gregg Cochran, Broker
Active MLS # OC18199737 | Listed by Gregg Cochran with Gregg Cochran, Broker
0 Parkdale Road is a $1,499,000 property on a 40.00 acre lot located in El Mirage, CA.
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.
Exterior Features | Standard Community Features - Rural |
Views | Mountains View - Yes |
Land Type | Corner Lot Level Rectangular Lot Street Level |
Water Source | See Remarks |
Attribution Contact | 949-667-0322 |
Financial Terms | 1031 Exchange Cash Owner May Carry financialterm335 |
Property Type | Land |
Property Sub Type | None |
Style | Agricultural Commercial Residential Full Service Commercial Industrial |
HOA Fee | $0.00 |
Taxes | $0.00 |
County | san bernardino |
Neighborhood |
All information should be verified by the recipient and none is guaranteed as accurate by CRMLS. Data last updated 07/27/2024 at 04:26am MDT. The data relating to real estate on this website derived in part from the California Regional Multiple Listing Service, Inc. Internet Data Exchange program. All properties are subject to prior sale, change or withdrawal. Neither Mills Realty | CABRE#01485453 nor any listing broker shall be responsible for any typographical errors, misinformation, or misprints, and they shall be held totally harmless from any damages arising from reliance upon this data. This data is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties they may be interested in purchasing. © 2024 California Regional Multiple Listing Service, Inc. All rights reserved.