7320 E LAFAYETTE StreetDetroit, MI 48214
$115,000
Listing courtesy of O'Connor Realty Detroit, LLC
About
This Home
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.
Details
- Property Type
- Land
- Style
- ImprovedLand
- Lot Size
- 0.3 acres
- Heating
- None
- Cooling
- None
- Annual Taxes
- $103
- MLS #
- 20240050145
About Detroit
Michigan's largest city, with a revitalized downtown and riverfront, the Midtown cultural district and historic neighborhoods like Indian Village and Boston-Edison. Home styles range from grand early-1900s homes to lofts and new construction.
Gallery
Listing courtesy of O'Connor Realty Detroit, LLC. MLS # 20240050145. Information is deemed reliable but not guaranteed and should be independently verified.
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