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Active
5040 FERNWOOD Street Detroit, MI 48204
UPDATED:
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20240040769
Lot Dimensions 88.00 x 120.00
Source Realcomp
Property Description
This is a land-based site. This vacant lot is sold with 5054,5060, 5066, and 5074 Fernwood. Totaling= 47,720 sqft. Not sold separately. Zoned R3. The DLBA is seeking proposals to support the activation and stewardship of vacant land sites, including urban agriculture, gardening, or beautification, whether for profit or community activation. Interested buyers should consult our proposal guidelines for land-based sites and DLBA Guide to Plot Plan, Site Design, and Maintenance. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. BATVAI. All offers must be supported by Proof of Funds (funds should meet or exceed development costs). Please note that the Detroit Land Bank Authority is entitled to a tax capture for the 5 tax years subsequent to transferring ownership of the property. The tax capture may be incompatible with tax abatement that are otherwise available to the selected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve such requests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing.
Location
State MI
County Wayne
Area Wayne County - 100
Zoning Residential
Direction Take Livernois headed south, pass Joy Rd. Make left onto Tireman. Then make a left onto Ironwood. This will turn into Fernwood.
Exterior
View Y/N No
Schools
School District Detroit
Others
Tax ID W16I003548C50
Acceptable Financing Cash
Listing Terms Cash
Listed by RCH Brokerage Legacy Inc