3663 Chamoune Ave, San Diego, CA 92105

Property Description

OPPORTUNITY ZONE (Tax-Free Appreciation). Central Location where Convenience Stores & Transportation is just minutes away! 2 Detached homes on 1 lot: 1st home has 2 beds, 2 baths. 2nd home has 3 beds, 2 baths. Great Opportunity for 1st Time buyer that wants to live in one home and rent the other to help pay the mortgage! ATTENTION: This Property falls within the "Opportunity Zone! Investor's Keep all Appreciation on this purchase if they hold the property for at least 10 Years! The 2017 Tax Cuts and Jobs Act includes a new tax incentive provision intended to promote investment in economically distressed communities, referred to as “Opportunity Zones.” Through this program, investors can achieve the following three significant tax benefits: 1. Deferral of Gain: tax on capital gains following disposition of property are deferred if such gains are invested in a “Qualified Opportunity Fund” within 180 days of disposition until the earlier of the date on which the subsequent investment is sold or exchanged, or December 31, 2026; 2. Up to 15% of Taxable Gain Extinguished: 10% of the tax on the gain invested in the 0QOF is eliminated after 5 years and an additional 5% (for a total of 15%) is eliminated after 7 years; and 3. Elimination of Gain on Investment in Fund: if the investment is held in the QOF for at least 10 years, taxes on the appreciation in value of the investment in the QOF are eliminated. ALL INFORMATION PROVIDED IS DEEMED RELIABLE BY THE SELLER. IT IS THE BUYER'S RESPONSIBILITY TO PERFORM ALL INSPECTIONS AND VERIFY ALL INFORMATION INCLUDING BUT NOT LIMITED TO: NUMBER OF UNITS, PERMITTED ROOMS, SQUARE FOOTAGE, AND ALL OTHER BUYER DUE DILIGENCE BEFORE THE CLOSE OF ESCROW. Neighborhoods: City Heights Other Fees: 0 Unit # for Unit 1: 3663 Unit # for Unit 2: 3665 Unit 1 Parking Spaces: 0 Unit 2 Parking Spaces: 0 Unit 3 Parking Spaces: 0 Unit 4 Parking Spaces: 0 Number of Furnished Units: 0