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Listed by Adan Alva • Keller Williams Thrive
$ 3,480,000
Est. payment | /mo
0.48 Acres Lot
$ 3,480,000
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
MLS Listing ID ML82024594
Lot Size 0.482 Acres
Property Sub-Type Residential Development Land
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
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 Listing Condition Not Applicable
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Kalani Stone
Agent | Lic# CalBRE: 01336392