7320 E Lafayette St, Detroit, Michigan, United States | Residential Land For Sale at GLOBAL LISTINGS

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Residential Land For Sale

$125,000

7320 E Lafayette St
Detroit, Michigan, United States

Listed By: Realtyww Info

Listed On: 07/25/2025

Listing ID: GL11865738 View More Details

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.

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Listed by: Bill Swanson