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El Mirage,CA 92301
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC21226521
HOA Y/N No
Lot Size 2.500 Acres
Property Description
Buy this fantastic lot using a OTC (One-Time Close) Loan from our strategic partner. Low down payment option with 12-month construction financing which converts to a 30-yr mortgage, all-in-one closing! (Call/Email for more details)
This 2.5AC parcel of flat/level open space land is located in an Opportunity Zone area, which offers significant tax benefits for investors who reinvest their capital gains in qualified projects. According to the IRS, Opportunity Zones provide three main tax benefits:
- Temporary deferral of taxes on previously earned capital gains until December 31, 2026 or until the investment is sold or exchanged, whichever is earlier.
- Step-up in basis for previously earned capital gains invested, which reduces the amount of taxable gain by 10% if held for at least 5 years and by 15% if held for at least 7 years.
- Permanent exclusion of taxable income on new gains from the sale or exchange of the investment if held for at least 10 years.
This parcel is ideal for investors who are looking for long-term returns and social impact. It is situated in the El Mirage Area, which has abundant natural resources and potential for economic development. The parcel sits atop the Oestre Aquifer, which can produce pristine water annually. It also has unobstructed views of the San Gabriel Mountains and is near the El Mirage Dry Lake. Moreover, it is close to a proposed site for a large biomass alternative fuel production facility, which could create jobs and revenue for the community.
The parcel allows for various uses such as residential, agricultural, recreational, medical, alternative energy production and more.
For more information on Opportunity Zones and their benefits, please visit https://selectsbcounty.com/major-initiatives/opportunity-zone.
Location
State CA
County San Bernardino
Area Elmg - El Mirage
Zoning RL
Interior
Fireplace No
Exterior
Community Features Rural
View Y/N Yes
View Desert,Mountain(s)
Building
Lot Description Lot Over 40000 Sqft,Level,Rectangular Lot
Water See Remarks
New Construction No
Others
Senior Community No
Tax ID 0457161430000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard