5040 FERNWOOD Street, Detroit, MI 48204
5040 FERNWOOD Street, Detroit, MI 48204
5040 FERNWOOD Street, Detroit, MI 48204
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Alec Applebaum

Alec Applebaum

+1(248) 866-8784
$35,000
Est. payment /mo
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20240040769

Lot Dimensions 88.00 x 120.00

Source Realcomp

Property Description

This is a land-based site. This vacant lot is sold with 5054,5060, 5066, and 5074 Fernwood. Totaling= 47,720 sqft. Not sold separately. Zoned R3. The DLBA is seeking proposals to support the activation and stewardship of vacant land sites, including urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult our proposal guidelines for land-based sites and DLBA Guide to Plot Plan, Site Design, and Maintenance. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. BATVAI. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing.

Location

State MI

County Wayne

Area Wayne County - 100

Zoning Residential

Direction Take Livernois headed south, pass Joy Rd. Make left onto Tireman. Then make a left onto Ironwood. This will turn into Fernwood.

Exterior

View Y/N No

Schools

School District Detroit

Others

Tax ID W16I003548C50

Acceptable Financing Cash

Listing Terms Cash

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Listed by RCH Brokerage Legacy Inc

Nearby School & Business

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Alec Applebaum

Alec Applebaum

+1(248) 866-8784

Broker | License ID: 6502389085

Broker License ID: 6502389085

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