7320 E LAFAYETTE ST Detroit, MI 48214
0.3 Acres Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type ImprovedLand
Listing Status Active
Purchase Type For Sale
Subdivision M. W. Fields Sub (Plats)
MLS Listing ID 20240050145
Lot Size 0.300 Acres
Acres 0.3
Property Sub-Type ImprovedLand
Property Description
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.
Location
State MI
County Wayne
Area Area05053Detwoodwardmcclellansomack
Interior
Fireplace No
Exterior
Utilities Available ElectricityAvailable, NaturalGasAvailable
View Y/N No
Building
Lot Description CornerLot, Sidewalk
Sewer Sewer At Street
Water WateratStreet
New Construction No
Schools
High Schools Detroit
School District Detroit
Others
Senior Community false
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition ShortSaleNo, Standard
Nearby Locations
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Detroit Edison Public School Academy
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Oakland International Academy-Middle
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Hutchinson Elementary-Middle School at Howe
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Chrysler Elementary School
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Chrysler Elementary School
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Detroit Enterprise Academy
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Ross-Hill Academy-Elementary
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A. L. Holmes Elementary-Middle School
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Garvey Academy
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Nichols Elementary-Middle School
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- 3
Oakland International Academy - Elementary School
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Hutchinson Elementary-Middle School
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- 2
Blackwell Institute
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Eastside Detroit Lions Academy
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Wolverine Academy (Seventy-Day Adventist) - Lenox Site
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Martin Luther King Jr. Senior High School
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Southeastern High School
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Hazel Park Empowerment Eastside Alternative School
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King High School
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Covenant House Academy Detroit - East Site
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Southeastern High School
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