Active
7320 E LAFAYETTE Street
Detroit MI, 48214
$125,000
$9.57 per sqft
Active
0.3 Acres
Land
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.
20240050145
MLSⓇ ID
July 12, 2024
Listed
March 7, 2025
Updated
Exterior/Building Features
Lot Size
0.3 Acres
Lot Features
Corner Lot
School Information
School District
Detroit
Other Property Details
Area Name
Det Woodward-Mcclellan/So Mack
Taxes
$103
Tax Frequency
Annually
Days on Market
226
Garage
No
View
No
County
Wayne
Courtesy of O'Connor Realty Detroit, LLC
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Data last updated 10:37 AM UTC, 3/7/2025