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
Details
| MLS # | ML82024594 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active Under Contract |
| Days On Site | 387 |
| Listing Provided By | Stark Complete Real Estate Services | Susan J. Stark |
Features
| Zoning | RD-H |
|---|---|
| Acreage | 0.48 |
Exterior
| Lot Features | Level |
|---|---|
| Fencing | Wood |
Utilities
| Sewer | Public Sewer |
|---|
Area Information
| State | CA |
|---|---|
| County | Alameda |
| City | Newark |
| Zip Code | 94560 |
| Area | 699 Not Defined |
Request a showing
Request a showing
Contact
Learn More About This Property
| State | CA |
|---|---|
| County | Alameda |
| City | Newark |
| Zip Code | 94560 |
| Area | 699 Not Defined |