5224 LINWOOD Street Detroit, MI 48208

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 2:06AM

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MLS# 20240024964

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Investment Insights

Based on property information with market context.

This investment opportunity is located in a growing community near Downtown Detroit, Corktown, I-75, and I-96. The property is zoned for residential and multifamily projects. The lot size is 30x151.56, which is approximately 0.11 acres. Interested buyers should consult proposal guidelines for new build opportunities. It is 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 5 tax years subsequent to transferring ownership of the property, which may be incompatible with tax abatement 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 abatement on the purchase and development financing.

Key Highlights

• Prime location near Downtown Detroit, Corktown, and major expressways (I‑75 and I‑96).
• Zoned for both Residential and Multifamily projects.
• Located in a growing and vibrant community.

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FAQs

What type of property is this?

Residential land & home lot - Investment opportunity near Downtown Detroit, zoned for residential and multifamily.

Where is this residential land & home lot located?

The property is located at 5224 LINWOOD Street Detroit, MI.

What is the asking price?

The asking price for this property is $49,500.

What are key features of this property?

This property features: Prime location near Downtown Detroit, Corktown, and major expressways (I‑75 and I‑96).; Zoned for both Residential and Multifamily projects.; Located in a growing and vibrant community.