About 7320 E Lafayette St
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.
Features of 7320 E Lafayette St
| MLS® # | 20240050145 |
|---|---|
| Price | $115,000 |
| Bathrooms | 0.00 |
| Acres | 0.30 |
| Type | Vacant Land |
| Status | Active |
Community Information
| Address | 7320 E Lafayette St |
|---|---|
| Area | 05053 - Det Woodward-Mcclellan/So Mack |
| Subdivision | M. W. FIELDS SUB (PLATS) |
| City | Detroit city |
| County | Wayne |
| State | Michigan |
| Zip Code | 48214 |
Amenities
| Utilities | Electricity Available, Natural Gas Available |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|
Exterior
| Lot Description | Corner Lot, Sidewalk |
|---|
School Information
| District | Detroit |
|---|
Additional Information
| Foreclosure | No |
|---|---|
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | O'Connor Realty Detroit, LLC |
|---|---|
| Contact Info | bill@oconnordetroit.com |