1157 EDISON Street Detroit, MI 48202

Listing agency Bellabay Realty Tri Counties n***@comcast.net Show Phone

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Apr 17, 2024 Updated: May 13 at 3:30AM Checked: Jul 22 at 3:06PM

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MLS# 20240024970

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Investment Insights

Based on property information with market context.

This residential land, situated in Detroit's Boston/Edison district, presents an investment opportunity. The lot measures 40x133.50 and is suitable for building a new home. The location offers proximity to Henry Ford Hospital, Wayne State University, and Midtown, with downtown Detroit just minutes away. Interested buyers should consult the proposal guidelines for new build opportunities. It is recommended to review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. The DLBA is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with other tax abatements. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. The lot size is 0.12 acres.

Key Highlights

• Prime location in the Boston/Edison district, near Henry Ford Hospital, Wayne State University, and Midtown.
• Ideal investment opportunity for building a dream home.
• Lot size: 40x133.50.

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FAQs

What type of property is this?

Residential land & home lot - Land in Detroit's Boston/Edison district, ready for new construction.

Where is this residential land & home lot located?

The property is located at 1157 EDISON Street Detroit, MI.

What is the asking price?

The asking price for this property is $40,000.

What are key features of this property?

This property features: Prime location in the Boston/Edison district, near Henry Ford Hospital, Wayne State University, and Midtown.; Ideal investment opportunity for building a dream home.; Lot size: 40x133.50.