7320 E Lafayette Street, Detroit, MI 48214
Land 
Built in —— 
0.3acre lot
—— car garage 
$——/sqft 
Listed 1 year ago
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.
- Listing Status:
- Active
- Date Added:
- July 23, 2024 at 05:00AM
- Listing Office:
- O'Connor Realty Detroit, LLC : 313-963-9891
- Listing Agent:
- Bill Swanson : 313-506-5471
- MLS ID:
- 60325701
- Zoning: Lots 5960 & 61 "Plot of Moses Field Subdivision of Private Claim 16" .T.2S.R.12E.HamtramckWayne County MI as recorded in Liber 4 Page 10 of Plots.
- Water: Public Water at Street
- Sewer: Public At Street
- Source: MiRealSource
This listing courtesy of Bill Swanson, O'Connor Realty Detroit, LLC
Monthly Payment
- Principal & Interest $
- Property Taxes $
- Home Insurance $
- VA Funding Fee $
Location
Schools Nearby
Moses Field Center
1100 Sheridan St, Detroit, MI, 48214
Grades PK-8
0.11 miles away
Moses Field Center
1100 Sheridan St, Detroit, MI, 48214
Grades PK-8
0.11 miles away
Martin Luther King Jr. Senior High School
3200 E Lafayette St, Detroit, MI, 48207
Grades 9-12
0.95 miles away
