Renovation Opportunity with Vacant
For Sale
$60,000
2540 W Forest Ave, Detroit, MI 48208
Structure for renovation and adjacent vacant lot available together.
Property SizeContact for details
Days on Market102
Property Features for 2540 W Forest Ave
General Information
Standard status
Active
Property subtype
Land
Listing Agency:
SCS Great Lakes INC
(586) 210-3350
Listed By:
Erick Monzo
(586) 210-3350
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Aug 5 at 8:06AM
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 SCS Great Lakes INC
Investment Insights
Based on property information with market context.
The properties at 2546 W. Forest and 2540 W. Forest offer an opportunity to acquire a structure requiring renovation, along with an adjacent vacant lot. The Detroit Land Bank Authority (DLBA) seeks a qualified proposal for the rehabilitation of 2546 W. Forest, with 2540 W. Forest included as part of the overall site plan and redevelopment approach. Proposals should outline the renovation scope for the existing structure, the intended use of the additional lot, project costs, timeline, and proof of sufficient funds to support completion. The strongest proposals will demonstrate a feasible redevelopment plan, relevant experience, and a cohesive vision for both parcels that contributes positively to the surrounding neighborhood. These properties are part of a bundle package and must be sold together. 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 abatements. 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 bike score is 68, indicating the location is bikeable. The walk score is 40, indicating car-dependence. The transit score is 50, indicating good transit options.
Key Highlights
- Opportunity to acquire a property and adjacent vacant lot together.
- DLBA seeking proposals for renovation and redevelopment.
- Bundle package offered at $60,000.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,253
Businesses Nearby
Explore this area
Business Placement
Demographics for 48208, MI
8,090
Population
5,226
Households
1.5
Avg Household Size
37
Median Age
27%
College-Educated
79%
High-School Grad
3.2 sq mi
ZIP Area
2,528
Density / Sq Mi
$29,742
Median Household Income
$39,526
Median Earnings
$842
Median Rent
$186,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Land - Structure for renovation and adjacent vacant lot available together.
Where is this land located?
The property is located at 2540 W Forest Ave Detroit, MI.
What is the asking price?
The asking price for this property is $60,000.
What are key features of this property?
This property features: Opportunity to acquire a property and adjacent vacant lot together.; DLBA seeking proposals for renovation and redevelopment.; Bundle package offered at $60,000.
