Large high-density residential development site in the heart of Old Town Newark. The zoning for the site allows residential development at densities between 30 dwelling units per acre and 100 dwelling units per acre. This property has the potential for 100+ apartment units if the developer uses state density bonus laws. The property is less than ten minutes drive to several major shopping centers. Costco, Safeway, Sprouts Farmers Market, Grocery Outlet, 99 Ranch, and Lion Market are all nearby. Additionally, there are dozens of restaurants, shops, and service businesses in the neighborhood. There are 15 parks and sports facilities in Newark, ranging from neighborhood parks all the way up to an indoor recreation and swimming facility. Newark is located on the San Francisco Bay and there are miles of trails along the Bay. The site is also a short drive from Coyote Hill Regional Park and several regional parks in the hills above Fremont.
Incredible opportunity to build an approved attached residential development in the heart of Newark. The seller has an approved tentative map for eight duet-style condo residences. There is one 3-bedroom plan that measures approximately 1,410 SF and two 4-bedroom plans that average 2,135 SF. All homes are two stories with attached two-car garages. The design of this project feels like detached residences, providing homeowners with privacy and open space around their home. There are no BMR units in this development; all homes can be sold at market prices! The site is a short drive from several shopping centers, major employers, schools and parks.
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
Newark is located in California. Newark, California has a population of 47,815. Newark is less family-centric than the surrounding county with 36.11% of the households containing married families with children. The county average for households married with children is 36.75%.
The median household income in Newark, California is $144,011. The median household income for the surrounding county is $112,017 compared to the national median of $69,021. The median age of people living in Newark is 36.5 years.
The average high temperature in July is 77.5 degrees, with an average low temperature in January of 42.4 degrees. The average rainfall is approximately 15.5 inches per year, with 0 inches of snow per year.
