3173 CONCORD Street Detroit, MI 48207

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 1:06AM

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MLS# 20240024664

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Investment Insights

Based on property information with market context.

Seven residential lots are available in the Island View area. New construction is emerging throughout the area. The lots are located at 3173, 3215, 3209, 3199, 3191, 3165, and 3159 Concord. Spanning approximately 0.32 acres, the Detroit Land Bank Authority (DLBA) seeks proposals for small- to medium-scale infill development to increase housing supply, restore the urban fabric, density, and walkability. Interested buyers should consult 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. All offers must be supported by Proof of Funds for both the Purchase Price, as well as the construction costs. The Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property, which may be incompatible with tax abatements otherwise available to the selected purchaser. The payment will be determined upon reviewing the development proforma and effect of any tax abatements on the purchase and development financing.

Key Highlights

• Opportunity to own seven lots in the Island View area
• Located in an up‑and‑coming area with new construction
• Suitable for small- to medium‑scale infill development

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FAQs

What type of property is this?

Residential land & home lot - Seven lots in up-and-coming Island View area.

Where is this residential land & home lot located?

The property is located at 3173 CONCORD Street Detroit, MI.

What is the asking price?

The asking price for this property is $35,000.

What are key features of this property?

This property features: Opportunity to own seven lots in the Island View area; Located in an up‑and‑coming area with new construction; Suitable for small- to medium‑scale infill development