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.
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.
Property Details
Price:
$115,000
MLS #:
20240050145
Status:
Active
Beds:
0
Baths:
0
Type:
Land
Subtype:
Improved Land
Subdivision:
M. W. FIELDS SUB PLATS
Neighborhood:
05053detwoodwardmcclellansomack
Listed Date:
Jul 23, 2024
Lot Size:
13,068 sqft / 0.30 acres (approx)
See this Listing
Schools
School District:
Detroit
Interior
Exterior
Financial
Taxes
$103
Map
Community
- Address7320 E LAFAYETTE ST Detroit MI
- SubdivisionM. W. FIELDS SUB (PLATS)
- CityDetroit
- CountyWayne
- Zip Code48214
Market Summary
Property Summary
- Located in the M. W. FIELDS SUB (PLATS) subdivision, 7320 E LAFAYETTE ST Detroit MI is a Land for sale in Detroit, MI, 48214. It is listed for $115,000 and features 0 acres. To schedule a showing of MLS#20240050145 at 7320 E LAFAYETTE ST in Detroit, MI, contact your LoChirco Realty, LLC agent at 586-321-9997.
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