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5161 Vermont Street Detroit, MI 48208 2042
2,178 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Mi
MLS Listing ID 60983852
Style Vacant Land
Lot Size 2,178 Sqft
Acres 0.05
Lot Dimensions 30X70
Property Sub-Type Vacant Land
Property Description
Three contiguous residential lots in Detroit's highly desirable Woodbridge neighborhood are being offered as a bundled package: 5175 Vermont, 5169 Vermont, and 5161 Vermont. These parcels must be purchased together and cannot be split, making them an excellent opportunity for a new-build infill development in one of the city's fastest-growing areas. Zoned residential, the lots provide strong potential for creative redevelopment and long-term value. Interested buyers are required to submit a complete proposal package that includes a project proposal outlining intended use and timeline, proof of funds such as a bank statement or lender letter, a detailed scope of work with projected development costs, and proof of previous projects including addresses and photos. The sale is contingent on execution of a DLBA Renovation/Development Agreement. Please note, the Detroit Land Bank Authority is entitled to a five-year tax recapture following transfer of ownership, which may limit eligibility for certain abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing. BATVAI. IDRBNG.
Location
State MI
County Wayne
Area Detroit (82001)
Zoning Residential
Building
Water Public Water at Street
Schools
School District Detroit City School District
Others
Ownership Government Owned
Financing Cash
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by Keller Williams Realty-Great Lakes