Residential Development Land
For Sale
Contact for pricing
5069 Wabash Street, Detroit, MI 48208
Bundle of residential lots sold together, requiring application submission with development plans and financing documentation.
Property SizeContact for details
Lot Size0.28 Acres
Days on Market187
Property Features for 5069 Wabash Street
General Information
Standard status
Active
Lot size
0.28 Acres
Property subtype
Land
Listing Agency:
RCH Brokerage Legacy Inc
(313) 510-7887
Listed By:
Leonard A Pickett · License #6501306589
(313) 510-7887
Source:
Compass
Added: Feb 6
Changed: Aug 8
Last Checked: Jul 16 at 2:29AM
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 listing includes residential land/home lots sold as a bundle with 5001 Wabash, 2119 Putnam, and 2125 Putnam; the lots are not available for separate sale. The seller notes that all four lots must be purchased together.
The buyer is required to submit an application to purchase, including construction plans or precedent architectural images of the proposed development, and a financing plan supported by a POF or a pre-approval letter for a new construction loan. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following transfer of ownership, and the tax capture may be incompatible with other tax abatement programs available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, determined after review of the development pro forma and the effect of any tax abatement on the purchase and development financing. See attached documents for DLBA offer submission requirements.
The buyer is required to submit an application to purchase, including construction plans or precedent architectural images of the proposed development, and a financing plan supported by a POF or a pre-approval letter for a new construction loan. The Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following transfer of ownership, and the tax capture may be incompatible with other tax abatement programs available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes, determined after review of the development pro forma and the effect of any tax abatement on the purchase and development financing. See attached documents for DLBA offer submission requirements.
Key Highlights
- Residential lots sold as a bundle only—4 lots must be purchased together
- Bundle totals 12,223 sqft across 5001 Wabash, 2119 Putnam, and 2125 Putnam
- Sold for $20,000 as a group; not available for separate purchase
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
472
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
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Bundle of residential lots sold together, requiring application submission with development plans and financing documentation.
Where is this residential land & home lot located?
The property is located at 5069 Wabash Street Detroit, MI.
What is the asking price?
The asking price for this property is Off market.
What are key features of this property?
This property features: Residential lots sold as a bundle only—4 lots must be purchased together; Bundle totals 12,223 sqft across 5001 Wabash, 2119 Putnam, and 2125 Putnam; Sold for $20,000 as a group; not available for separate purchase
