Sonoma Ave & Terrace St, Seaside, CA 93955
- $599,900
Listing courtesy of Listing Agent: Steve Mohseni (Steve@BayAreaHomeFinder.com) from Listing Office: Compass.
- List Price
- $599,900
- Status
- ACTIVE
- MLS#
- 41135800
- Lot Size
- 8,853
- Lot Location
- Corner Lot
- Days on Market
- 64
- Property Type
- Land
- Neighborhood
- Other
Property Description
Tax-Free QOZ (Qualified Opportunity Zone) Eligible Investment - Seaside Vacant Lot Multi-family - APN 012-272-046 & 012-272-047 Two premium lots in Seaside, combined at 1/5 acre (8,853 square feet) in RM zoning located in a prime location, with capacity to build at a ratio of 30 units per one acre as per Seaside Planning Department. The two adjacent parcels are sitting on the corner of Sonoma Avenue and Terrace Street with a view of the Carmel Valley and the Monterey Bay, ideal for a new multi-unit development & investment or simply an ideal place to build your dream home. This location also offers an incredible opportunity to potentially benefit from the new 2025 sweeping tax reform (OBBBA) and its tax incentives as this location falls within the QOZ 1.0 (Qualified Opportunity Zone) area. Take advantage of this tax law, harvest capital gain tax deferment and exclusion resulting from development at this location. The preliminary evaluation suggests that a new development for a total of 3,984 square feet can be built. This can be configured as a 4-unit townhome style community with 2 three-bedroom, 2.5 bathroom, 2-car garages with 1,150sf each; in addition to 2 two-bedroom, 1.5 bathroom, 1-car garage with 840 sf each, one being designated as an affordable housing unit.
/u.realgeeks.media/great/Joe_Maza_Headshot.jpg)
Additional Information
- View
- Bay, City Lights, Valley
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.