Thornton Avenue, Newark, CA 94560
- $3,140,000
- List Price
- $3,140,000
- Status
- ACTIVE UNDER CONTRACT
- Days on Market
- 532
- Price Change
- ▼ $150,000 1772858072
- Closing Date
- May 20, 2027
- MLS#
- ML82024594
- Subtype
- Land
- Lot Size
- 20,995
- Acres
- 0.48
- MLS Area Major
- Not Defined (699)
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
Additional Information
- Zoning
- RD-H
- School District
- Other
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Listing courtesy of Listing Agent: Adan Alva (adanalva00@gmail.com) from Listing Office: Stark Complete Real Estate Services.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.