Detroit, MI 48214
MLS# 20240050145
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.
Listed by Bill Swanson · O'Connor Realty Detroit, LLC
Estimate only — principal & interest, no taxes or insurance. Rates change daily; confirm with your lender.
$582/mo
$23,000 down · $92,000 financed
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