1049 S. MelroseSt., #C Listing Details & Market Data

Placentia is situated in the Los Angeles metropolitan area, approximately 35 miles southeast of downtown Los Angeles. It is well-connected by major highways, including the Riverside (91) Freeway and the Orange (57) Freeway. Public transportation options include buses, and the city is located near major airports.Opportunity Zones are census tracts added to the federal tax code that must meet one of three criteria under the definition of “low-income community” in Internal Revenue Code Section 45D(e). These criteria are defined by both poverty and median family income. California worked with local governments to ensure that census tracts fit this definition in nominating census tracts of economic distress. The average poverty rate in a California Opportunity Zone is twenty percentage points higher than the statewide average. The median family income of a California Opportunity Zone is half the statewide average. Opportunity Zones incentivize investment and economic development in distressed communities by providing federal tax benefits to investors for qualified uses. The incentive enables a temporary deferral on capital gains for qualified investments through a Qualified Opportunity Fund (QOF) established with the Internal Revenue Service (IRS). Investors can defer federal capital gains taxes on the invested gain amounts until there is an event that reduces or terminates the qualifying investment in the QOF, or December 31, 2026, whichever is earlier. In addition, if the investor holds the investment in the QOF for at least 10 years, the investor is not required to pay federal capital gains taxes on any realized gains from the investment. All QOFs must hold at least 90 percent of assets in qualifying Opportunity Zone properties or businesses.