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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 jobPROPERTY FEATURES
PROPERTY DETAILS
Street Address: Address not disclosed
City: El Mirage
State: California
Postal Code: 92301
County: San Bernardino
MLS Number: OC18199737
Courtesy of Gregg Cochran, Broker
City: El Mirage
State: California
Postal Code: 92301
County: San Bernardino
MLS Number: OC18199737
Courtesy of Gregg Cochran, Broker
Courtesy of Coldwell Banker Commercial Rea