2483 PARKER Street Detroit, MI 48214

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

Listed by Natasha C Richards · License #6502385914 Show Phone

Added: Sep 6, 2024 Updated: May 13 at 3:30AM Checked: Jul 23 at 6:06AM

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MLS# 20240058626

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Investment Insights

Based on property information with market context.

This infill lot, situated in Detroit's West Village, presents a build opportunity offered by the Detroit Land Bank Authority. Measuring 31x110, the property is intended for small- to medium-scale infill development, with the aim of increasing housing supply and restoring the urban fabric, density, and walkability of the area. Interested buyers are advised to consult the proposal guidelines for new build opportunities and review relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional neighborhood context. Please note that the Detroit Land bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatements and/or lot combinations that are otherwise available to the selected purchaser. 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 abatements on the purchase and development financing. Please refer to DLBA proposal guidelines.

Key Highlights

• Infill lot in West Village, offering a great build opportunity.
• Sizeable lot (31x110) suitable for small- to medium‑scale development.
• Opportunity to contribute to increasing housing supply and restoring the urban fabric.

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FAQs

What type of property is this?

Residential land & home lot - Infill lot in West Village for new residential development.

Where is this residential land & home lot located?

The property is located at 2483 PARKER Street Detroit, MI.

What is the asking price?

The asking price for this property is Off market.

What are key features of this property?

This property features: Infill lot in West Village, offering a great build opportunity.; Sizeable lot (31x110) suitable for small- to medium‑scale development.; Opportunity to contribute to increasing housing supply and restoring the urban fabric.