Bundle of Residential Development
For Sale
$38,404
2705 Mt Elliott Street, Detroit, MI 48207
Five bundled residential lots are zoned R4 and sold together, totaling 19,202 sqft.
Property Size19,202 SF
Price / SF$2.00
Days on Market190
Property Features for 2705 Mt Elliott Street
General Information
Standard status
Active
Size
19,202 SF
Property subtype
Land
Zoning
R4
Listing Agency:
RCH Brokerage Legacy Inc
(313) 510-7887
Listed By:
Leonard A Pickett · License #6501306589
(313) 510-7887
Source:
Compass
Added: Feb 2
Changed: Aug 8
Last Checked: Jul 20 at 9:09AM
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 for a bundled sale of five residential lots, sold together and not separately. The total lot area is 19,202 square feet across 2709, 2715, 2729, 2735, and 2705 Mt Elliott Street. The property is zoned R4.
The Detroit Land Bank Authority is seeking proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, including goals related to density and walkability. Interested buyers are encouraged to review the DLBA proposal guidelines and relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context.
DLBA also notes it is entitled to a tax capture for the five tax years following transfer of ownership, and that any tax capture may be incompatible with other tax abatement that may be available to a purchaser. Requests to waive tax capture rights will be reviewed and may require a payment in lieu of taxes, to be determined based on the development pro forma and the effect of any tax abatement on purchase and development financing.
The Detroit Land Bank Authority is seeking proposals for small- to medium-scale infill development aimed at increasing housing supply and restoring the urban fabric, including goals related to density and walkability. Interested buyers are encouraged to review the DLBA proposal guidelines and relevant Neighborhood Framework Plans from the City of Detroit’s Planning and Development Department for additional context.
DLBA also notes it is entitled to a tax capture for the five tax years following transfer of ownership, and that any tax capture may be incompatible with other tax abatement that may be available to a purchaser. Requests to waive tax capture rights will be reviewed and may require a payment in lieu of taxes, to be determined based on the development pro forma and the effect of any tax abatement on purchase and development financing.
Key Highlights
- Sold as a bundle of 5 residential lots: 2709, 2715, 2729, 2735 Mt Elliot
- Total land area for the 5 lots combined is 19,202 SF
- Property is zoned R4
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 - Five bundled residential lots are zoned R4 and sold together, totaling 19,202 sqft.
Where is this residential land & home lot located?
The property is located at 2705 Mt Elliott Street Detroit, MI.
What is the asking price?
The asking price for this property is $38,404.
What are key features of this property?
This property features: Sold as a bundle of 5 residential lots: 2709, 2715, 2729, 2735 Mt Elliot; Total land area for the 5 lots combined is 19,202 SF; Property is zoned R4
