323 KING 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 14 at 1:58AM Checked: Jul 22 at 2:06PM

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MLS# 20240024982

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Investment Insights

Based on property information with market context.

This property presents an infill opportunity within Detroit's North End neighborhood, encompassing a total of four lots located at 297, 307, 315, and 323 King Street. The Detroit Land Bank Authority (DLBA) is seeking proposals for small to medium-scale infill development, with the objective of increasing housing supply and restoring the urban fabric, density, and walkability of the area. Prospective buyers are encouraged to consult the DLBA's proposal guidelines for new build opportunities. It is also 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 five tax years following the transfer of ownership of the property. This tax capture may not be compatible with tax abatements otherwise available to the selected purchaser. The payment amount will be determined upon reviewing the development proforma and the effect of any tax abatements on the purchase and development financing. The combined lot size is 0.1 acres.

Key Highlights

• Infill opportunity in Detroit's North End neighborhood.
• Includes 4 lots: 297, 307, 315, and 323 King.
• Suitable for small to medium scale infill development.

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FAQs

What type of property is this?

Residential land & home lot - Four residential lots available in Detroit's North End neighborhood.

Where is this residential land & home lot located?

The property is located at 323 KING Street Detroit, MI.

What is the asking price?

The asking price for this property is $53,000.

What are key features of this property?

This property features: Infill opportunity in Detroit's North End neighborhood.; Includes 4 lots: 297, 307, 315, and 323 King.; Suitable for small to medium scale infill development.