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

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Adam Soroka shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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Data last updated 10:37 AM UTC, 3/7/2025

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