0 Sonoma Ave & Terrace St, Seaside, CA 93955
0 Sonoma Ave & Terrace St, Seaside, CA 93955
0 Sonoma Ave & Terrace St, Seaside, CA 93955
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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567
$599,900
Est. payment /mo
8,851 Sqft Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 41135800

HOA Y/N No

Lot Size 8,851 Sqft

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. Buyer to verify above with city of Seaside.

Location

State CA

County Monterey

Zoning RM - Multi

Interior

Fireplace No

Exterior

View Y/N Yes

View Bay, City Lights, Valley

Building

Lot Description Corner Lot

Others

Tax ID 012272047000

Acceptable Financing Cash, Conventional, 1031 Exchange, Owner May Carry

Listing Terms Cash, Conventional, 1031 Exchange, Owner May Carry

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Listed by Steve Mohseni Compass #01267039

NEARBY SCHOOL & BUSINESS

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Shawn Kormondy

Shawn Kormondy

+1(323) 638-7567

Agent License ID: 01451888

Agent License ID: 01451888

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