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0000 Melrose , #1

San Diego, CA 92114
  • $999,000
  • STATUS: ACTIVE
  • ON SITE: 14 Days
  • ID#: 210028652
UPDATED: 51 min ago
$999,000
  • 0
    BEDS
  • 1.38
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:

Description

CALLING ALL DEVELOPERS! This awesome 60,112 square foot (1.37 Acres) parcel with Views to the Bay and Coronado Bridge is full of Opportunity! Situated in beautiful Emerald Hills in a cul-de-sac, a true developers dream come true! Owner started the process to develop up to 15 SINGLE Family Homes + ADU's! This is NOT RAW Land as Owner has began process for: Soils, Civil Engineering Prelim Work & Developmental. If you have the time, there is money to be made with this deal! ATTENTION: This Property falls within the "Opportunity Zone! Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.” ATTENTION: This Property falls within the "Opportunity Zone! Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.” Through this program, investors can achieve the following three significant tax benefits: 1. Deferral of Gain: tax on capital gains following disposition of property are deferred if such gains are invested in a “Qualified Opportunity Fund” within 180 days of disposition until the earlier of the date on which the subsequent investment is sold or exchanged, or December 31, 2026; 2. Up to 15% of Taxable Gain Extinguished: 10% of the tax on the gain invested in the 0QOF is eliminated after 5 years and an additional 5% (for a total of 15%) is eliminated after 7 years; and 3. Elimination of Gain on Investment in Fund: if the investment is held in the QOF for at least 10 years, taxes on the appreciation in value of the investment in the QOF are eliminated. ALL INFORMATION PROVIDED IS DEEMED RELIABLE BY THE SELLER. IT IS THE BUYER'S RESPONSIBILITY TO PERFORM ALL INSPECTIONS AND VERIFY ALL INFORMATION INCLUDING BUT NOT LIMITED TO: NUMBER OF UNITS, PERMITTED ROOMS, SQUARE FOOTAGE, AND ALL OTHER BUYER DUE DILIGENCE BEFORE THE CLOSE OF ESCROW.

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
www.triolorealty.com/homes/122309276
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0000 Melrose , #1 San Diego, CA 92114

  • Price: $999,000
  • Status: ACTIVE
  • Updated: 51 min ago
  • ID#: 210028652
0
Beds
0
Baths
0
½ Baths
1.38
Acres
Neighborhood:
Emerald Hills
County:
San Diego
Area:
Encanto (92114)
Elementary School:
San Diego Unified School District
Middle School:
San Diego Unified School District
High School:
San Diego Unified School District
Property Description
CALLING ALL DEVELOPERS! This awesome 60,112 square foot (1.37 Acres) parcel with Views to the Bay and Coronado Bridge is full of Opportunity! Situated in beautiful Emerald Hills in a cul-de-sac, a true developers dream come true! Owner started the process to develop up to 15 SINGLE Family Homes + ADU's! This is NOT RAW Land as Owner has began process for: Soils, Civil Engineering Prelim Work & Developmental. If you have the time, there is money to be made with this deal! ATTENTION: This Property falls within the "Opportunity Zone! Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.” ATTENTION: This Property falls within the "Opportunity Zone! Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.” Through this program, investors can achieve the following three significant tax benefits: 1. Deferral of Gain: tax on capital gains following disposition of property are deferred if such gains are invested in a “Qualified Opportunity Fund” within 180 days of disposition until the earlier of the date on which the subsequent investment is sold or exchanged, or December 31, 2026; 2. Up to 15% of Taxable Gain Extinguished: 10% of the tax on the gain invested in the 0QOF is eliminated after 5 years and an additional 5% (for a total of 15%) is eliminated after 7 years; and 3. Elimination of Gain on Investment in Fund: if the investment is held in the QOF for at least 10 years, taxes on the appreciation in value of the investment in the QOF are eliminated. ALL INFORMATION PROVIDED IS DEEMED RELIABLE BY THE SELLER. IT IS THE BUYER'S RESPONSIBILITY TO PERFORM ALL INSPECTIONS AND VERIFY ALL INFORMATION INCLUDING BUT NOT LIMITED TO: NUMBER OF UNITS, PERMITTED ROOMS, SQUARE FOOTAGE, AND ALL OTHER BUYER DUE DILIGENCE BEFORE THE CLOSE OF ESCROW.
Exterior Features

Fencing Partial Frontage Open SpaceOther/Remarks Irrigation N/K Topography LevelSlope Gentle

Property Features

Additional Property Use N/K Age Restrictions N/K Cfd Mello Roos Fee 0.0 Cross Streets Roswell Mandatory Remarks None Known Monthly Total Fees 0 Occupied Vacant Other Fees 0.0 Sales Restrictions N/K Short Sale No Terms CashSeller May Carry Utilities Available Below GroundElectricTelephone Utilities To Site N/K Water Available Water District City Of San Diego Zoning R-2:Mm

Listing provided courtesy of Lepe Tendwell Properties. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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Keller Williams - Triolo Realty Group
12780 High Bluff Drive, Suite 130
San Diego CA, 92130