7320 E LAFAYETTE Street, Detroit, MI 48214
7320 E LAFAYETTE Street, Detroit, MI 48214
7320 E LAFAYETTE Street, Detroit, MI 48214
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Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134
$115,000
Est. payment /mo
0.3 Acres Lot
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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 20240050145

Annual Tax Amount $103

Lot Size 0.300 Acres

Acres 0.3

Lot Dimensions 125 X 103

Source Realcomp

Property Description

Nice sized buildable land in Islandview in the vibrant and growing Villages neighborhood. Low Income Housing Income Tax Potential – According to the U.S. Housing and Urban Development website, this property is located in a Qualified Tract Zone, which allows for an additional 30% of low income housing credits, in addition to the 9% credit on qualified development costs. Buyer to Verify Zoning - The property is zoned R5, which allows for apartments/affordable housing to be constructed. Also, R5 zoning may allow for certain specified non-residential uses, as long as those uses can be blended into the district. So, for example, the first floor of a building could be rented out to businesses such as convenience stores, gyms, hair/nail salon, and other businesses which directly support residents.

Location

State MI

County Wayne

Zoning Multi-Family,Residential

Direction Down the street from the Tunnel to Belle Isle

Exterior

View Y/N No

Building

Lot Description Corner Lot

Schools

School District Detroit

Others

Tax ID 17013509..11

Acceptable Financing Cash

Listing Terms Cash

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Listed by O'Connor Realty Detroit, LLC

Nearby School & Business

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Nick Schweihofer

Nick Schweihofer

+1(616) 200-4134

Team Leader, Broker License ID: 6506047709

Team Leader, Broker License ID: 6506047709

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  • Nick did an awesome job in helping us find and purchase our condo. He listened to our wants and identified options and in the end we found a good fit for our needs for a vacation home Since we are far from Holland Nick set up a couple video tours to reduce travel. Thanks Nick for all the hard work and insight. We are very excited about our new home!
    Gordon L
  • Nick was awesome to work with! I just went through the process of purchasing my first home and Nick couldn’t have made it any easier. He is super knowledgeable about the industry and the area. He answered all my questions and made sure to point out things I may not be thinking of since it was my first time going through the process. He was attentive, super responsive, easy to talk to, and truly cares about finding his clients a home they’ll love! I’m looking forward to working with him again in the future and would definitely recommend him as an agent!
    Emily Rzeszutko
  • Nick was amazing to work with! This was my first time buying a house. Nick was very patient and took the time to walk me through everything and address all my questions. He was always quick to respond. He was clearly knowledgeable about the area and was great at pointing out and educating me on issues to watch for as we walked through houses. I absolutely recommend Nick to anyone buying or selling a home, and look forward to working with him again in the future!
    Kayla Kocal
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