Zoned R3 Residential Land
For Sale
$58,300
4257 MOUNT ELLIOTT Street, Detroit, MI 48207
For-sale bundle of eight parcels zoned R3, sold together only, with DLBA infill development guidelines required.
Property SizeContact for details
Days on Market1151
Property Features for 4257 MOUNT ELLIOTT Street
General Information
Standard status
Active
Property subtype
Lots/Land
Listing Agency:
RCH Brokerage Legacy Inc
(248) 440-2268
Listed By:
Leonard A Pickett III · License #6501306589
(248) 440-2268
Source:
Exitrealty
Added: Jun 20, 2023
Changed: Aug 8
Last Checked: Jul 16 at 5:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RCH Brokerage Legacy Inc
Investment Insights
Based on property information with market context.
This offering is sold as a bundle of eight residential parcels, including 4253, 4233, 4239, 4245, and 4265 Mt Elliott, totaling 23,749 square feet, and 3730 and 3722 E Canfield totaling 5,401 square feet, for a combined total of 29,150 square feet. The parcels are not offered for separate sale.
The property is zoned R3. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development intended to increase housing supply and restore the urban fabric, including density and walkability. Buyers should review the DLBA proposal guidelines and relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department. Please note the DLBA is entitled to a tax capture for the five tax years following transfer of ownership, and that tax capture may be incompatible with other available tax abatement. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes based on the development pro forma and financing impacts. BATVAI; see attached documents for DLBA guidelines.
The property is zoned R3. The Detroit Land Bank Authority (DLBA) is seeking proposals for small- to medium-scale infill development intended to increase housing supply and restore the urban fabric, including density and walkability. Buyers should review the DLBA proposal guidelines and relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department. Please note the DLBA is entitled to a tax capture for the five tax years following transfer of ownership, and that tax capture may be incompatible with other available tax abatement. The DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes based on the development pro forma and financing impacts. BATVAI; see attached documents for DLBA guidelines.
Key Highlights
- Bundle of 8 parcels sold together only (not sold separately)
- Total combined building area: 23,749 SF (4253, 4233, 4239, 4245, 4265 Mt Elliot) plus 5,401 SF (3730, 3722 E Canfield)
- All parcels are zoned R3
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
804
Businesses Nearby
Explore this area
Business Placement
Demographics for 48207, MI
21,704
Population
13,026
Households
1.7
Avg Household Size
42
Median Age
35%
College-Educated
88%
High-School Grad
6.3 sq mi
ZIP Area
3,445
Density / Sq Mi
$44,561
Median Household Income
$43,377
Median Earnings
$1,040
Median Rent
$193,800
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - For-sale bundle of eight parcels zoned R3, sold together only, with DLBA infill development guidelines required.
Where is this residential land & home lot located?
The property is located at 4257 MOUNT ELLIOTT Street Detroit, MI.
What is the asking price?
The asking price for this property is $58,300.
What are key features of this property?
This property features: Bundle of 8 parcels sold together only (not sold separately); Total combined building area: 23,749 SF (4253, 4233, 4239, 4245, 4265 Mt Elliot) plus 5,401 SF (3730, 3722 E Canfield); All parcels are zoned R3
