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$ 3,290,000
Est. payment | /mo
0.48 Acres Lot
$ 3,290,000
Est. payment | /mo
0.48 Acres Lot
Key Details
Property Type Vacant Land
Sub Type Residential Development Land
Listing Status Active
Purchase Type For Sale
Lot Size 0.482 Acres
MLS Listing ID ML82024594
Property Description
This sale includes 6417 & 6433 Thornton Ave in Newarks Old Town Specific Plan area, offering 21,000 SF of land ready for high-impact development. Together, the parcels can support 100+ residential units under Californias Density Bonus Law and qualify for streamlined city approvals. The site is also eligible for $20M+ in state and local housing grants and low-interest financing for affordable or mixed-income projects. Next door, a 59-unit affordable housing development is underway, funded by a $12M city grant, showcasing Newarks strong commitment to housing growth. Investors and developers are encouraged to take advantage of this rare opportunity to deliver a transformative project in one of the Bay Areas most supportive housing markets. Seller Financing Available, Up to 50% at 7.5% (5-Year Term) Flexible capital structure ideal for developers and value-add buyers. Seller Financing Highlights: Seller will finance up to 50% of purchase price 7.5% interest, fixed 5-year term with balloon payment Fast closing no bank approval needed Ideal for entitlement phase, early-stage development, or land banking
Location
State CA
County Alameda
Area Newark
Zoning RD-H
Interior
1-purchase type For Sale
Exterior
Fence Wood, Fenced
Utilities Available Public Utilities
Present Use Residential,Single Family,Vacant
Building
Lot Description Grade - Level
Sewer Sewer - Public
Water Public, Individual Water Meter
Others
Tax ID 092A-0919-021-02
Horse Property No
Special Sale Not Applicable
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Listed by Adan Alva of Stark Complete Real Estate Services
Bought with Adan Alva of Stark Complete Real Estate Services
Bought with Adan Alva of Stark Complete Real Estate Services
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