7320 E LAFAYETTE Street, Detroit, MI 48214
7320 E LAFAYETTE Street, Detroit, MI 48214
7320 E LAFAYETTE Street, Detroit, MI 48214
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Alec Applebaum

Alec Applebaum

+1(248) 866-8784
$115,000
Est. payment /mo
0.3 Acres Lot
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UPDATED:

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20240050145

Annual Tax Amount $103

Lot Size 0.300 Acres

Acres 0.3

Lot Dimensions 125 X 103

Source Realcomp

Property Description

Nice sized buildable land in Islandview in the vibrant and growing Villages neighborhood. Low Income Housing Income Tax Potential – According to the U.S. Housing and Urban Development website, this property is located in a Qualified Tract Zone, which allows for an additional 30% of low income housing credits, in addition to the 9% credit on qualified development costs. Buyer to Verify Zoning - The property is zoned R5, which allows for apartments/affordable housing to be constructed. Also, R5 zoning may allow for certain specified non-residential uses, as long as those uses can be blended into the district. So, for example, the first floor of a building could be rented out to businesses such as convenience stores, gyms, hair/nail salon, and other businesses which directly support residents.

Location

State MI

County Wayne

Zoning Multi-Family,Residential

Direction Down the street from the Tunnel to Belle Isle

Exterior

View Y/N No

Building

Lot Description Corner Lot

Schools

School District Detroit

Others

Tax ID 17013509..11

Acceptable Financing Cash

Listing Terms Cash

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Listed by O'Connor Realty Detroit, LLC

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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Name

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