2081 VIRGINIA PARK Street Detroit, MI 48206

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 23 at 9:06AM

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MLS# 20240024668

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Investment Insights

Based on property information with market context.

This vacant lot presents an opportunity for new housing construction within a developing Detroit community. The location offers proximity to the Motown Museum, Henry Ford Hospital, and the New Center/Downtown area. The Detroit Land Bank Authority (DLBA) aims to encourage small- to medium-scale infill development to increase housing supply and enhance the urban environment, including density and walkability. Buyers are advised to consult proposal guidelines for new construction opportunities and review Neighborhood Framework Plans from the City of Detroit's Planning and Development Department. The DLBA retains a tax capture for the five years following property ownership transfer, which may affect tax abatements available to the purchaser. The DLBA will consider waiving its tax capture rights, potentially requiring a payment in lieu of taxes based on the development proforma and the impact of any tax abatement on financing. The lot size is approximately 0.37 acres and is zoned for residential use.

Key Highlights

• Vacant lot suitable for new housing development.
• Located in a thriving community near Motown Museum, Henry Ford Hospital, and New Center/Downtown Area.
• Opportunity for small- to medium‑scale infill development to increase housing supply.

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FAQs

What type of property is this?

Residential land & home lot - Vacant lot suitable for new residential development in Detroit.

Where is this residential land & home lot located?

The property is located at 2081 VIRGINIA PARK Street Detroit, MI.

What is the asking price?

The asking price for this property is $30,000.

What are key features of this property?

This property features: Vacant lot suitable for new housing development.; Located in a thriving community near Motown Museum, Henry Ford Hospital, and New Center/Downtown Area.; Opportunity for small- to medium‑scale infill development to increase housing supply.