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Listed by National Real Estate
$ 700,000
Est. payment | /mo
8.09 Acres Lot
$ 700,000
Est. payment | /mo
8.09 Acres Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 23622120
Annual Tax Amount $3,054
Tax Year 2023
Lot Size 8.090 Acres
Property Description
Located in an OPPORTUNITY ZONE, this 8-acre parcel in North Bend City Limits offers prime potential for multi-residential development. Positioned on the 2nd highest trafficked road off Highway 101, it's centrally located between Coos Bay and North Bend. Currently zoned as R-7, the seller is open to a long escrow to accommodate a rezoning contingency. Zoning information and planning documents are available upon request.Photos and a fly-through video provide a detailed look inside the lot lines. The listing includes approximate lot line boundaries via aerial photos, marked corner survey points, and multiple survey documents from Stuntzner Engineering. Merchantable timber on the property was valued at $42,000 by Messerle and Sons, adding another layer of potential revenue.Investing in an Opportunity Zone can offer tax incentives, capital gains deferral until December 31, 2026, capital gains reduction for holding periods of at least five or seven years, and tax-free gains for investments held for at least 10 years. This investment can also contribute to improving the local economy and community, in need of more housing.Contact North Bend City Planning Department for more details on the Opportunity Zone benefits consult with a tax/financial advisor on the Opportunity Zone advantages.
Location
State OR
County Coos
Area _260
Zoning R-7
Exterior
Utilities Available ElectricityAvailable, PublicSewer, WaterAvailable
View City, Territorial, Trees Woods
Garage No
Building
Lot Description Stream, Wooded
Schools
Elementary Schools Hillcrest
Middle Schools North Bend
High Schools North Bend
Others
Acceptable Financing Cash, Conventional, Other
Listing Terms Cash, Conventional, Other
