Detroit Vacant Lot
For Sale
Contact for pricing
Pending
1588 ELM, Detroit, MI 48216
LAND - Detroit, MI
Property SizeContact for details
Lot Size0.07 Acres
Days on Market2690
Property Features for 1588 ELM
General Information
Property type
Land
Property subtype
Other
Zoning
Residential
Subdivision
PLAT OF PC 27 LOGNON FARM (PLATS)
Elementary school district
Detroit
Middle school district
Detroit
High school district
Detroit
Directions
Trumbell Ave to Elm Street
Standard status
Pending
APN
W08I006474S
Lot size
0.07 Acres
Taxes and HOA fees
Tax Description
E COCHRANE 385 PLAT OF LOGNON FARM L2 P5 PLATS, W C R 8/29 31 X 100
Legal Description
E COCHRANE 385 PLAT OF LOGNON FARM L2 P5 PLATS, W C R 8/29 31 X 100
Listing Agency:
Premier Property Services LLC · NextHome
(313) 822-9000
Listed By:
James Bufalino · License #6501313711
(313) 822-9000
Added: Apr 15, 2019
Changed: May 14
Last Checked: Aug 25 at 5:06AM
MLS# 219033821
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Investment Insights
Based on property information with market context.
This vacant lot in Detroit, MI, presents a new build opportunity. The purchaser is required to submit a comprehensive development plan. This plan should include the scope of development, specifying the number of units and total square footage, along with development cost estimates and proof of funds. Architectural drawings or precedent architecture images must also be included. Incomplete proposals will not be considered. The Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years following the transfer of ownership. This tax capture may not be compatible with other tax abatements available to the purchaser. The 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 the effect of any tax abatements on the purchase and development financing. The lot is approximately 0.07 acres and is zoned for residential use.
Key Highlights
- New build opportunity on a vacant lot.
- Development plan submission required (scope, cost, proof of funds, architectural drawings).
- Specific development proposal requirements ensure serious offers.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
666
Businesses Nearby
Explore this area
Business Placement
Demographics for 48216, MI
5,031
Population
3,398
Households
1.5
Avg Household Size
35
Median Age
37%
College-Educated
87%
High-School Grad
2.3 sq mi
ZIP Area
2,187
Density / Sq Mi
$42,278
Median Household Income
$42,189
Median Earnings
$860
Median Rent
$225,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Vacant lot in Detroit, new build opportunity.
Where is this residential land & home lot located?
The property is located at 1588 ELM Detroit, MI.
What are key features of this property?
This property features: New build opportunity on a vacant lot.; Development plan submission required (scope, cost, proof of funds, architectural drawings).; Specific development proposal requirements ensure serious offers.
