1502 Casgrain Street Detroit, MI 48209

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

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: May 12 Updated: Jun 17 at 3:32PM Checked: Jul 22 at 2:06PM

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MLS# 20261030863

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Investment Insights

Based on property information with market context.

This offering presents an infill opportunity in Detroit, suitable for residential development. The sale encompasses multiple parcels: 1502, 1514, 1520, 1526, and 1532 Casgrain, and they are not sold separately. The total lot size is 0.24 acres. The Detroit Land Bank Authority (DLBA) seeks affordable housing proposals for these lots, and interested buyers should consult the proposal guidelines for new build opportunities. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. Note that the DLBA is entitled to a tax capture for the 5 tax years following the property ownership transfer. This tax capture may not be compatible with other tax abatements available to the purchaser. 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 the effect of any tax abatement on the purchase and development financing. The property is zoned for residential use.

Key Highlights

• Infill opportunity in a redevelopment area.
• Multiple lots included in the sale (1502, 1514, 1520, 1526 and 1532 Casgrain).
• DLBA is looking for affordable housing proposals for these lots.

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FAQs

What type of property is this?

Land - Infill opportunity in Detroit for affordable housing development.

Where is this land located?

The property is located at 1502 Casgrain Street Detroit, MI.

What is the asking price?

The asking price for this property is $38,000.

What are key features of this property?

This property features: Infill opportunity in a redevelopment area.; Multiple lots included in the sale (1502, 1514, 1520, 1526 and 1532 Casgrain).; DLBA is looking for affordable housing proposals for these lots.