5040 FERNWOOD Street Active Save Request In-Person Tour Request Virtual Tour
Detroit,MI 48204
Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision John Tiremans Sub (Plats)
MLS Listing ID 20240040769
Originating Board Realcomp II Ltd
Lot Dimensions 88.00 x 120.00
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
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
Road Frontage Paved
Building
Sewer Public Sewer (Sewer-Sanitary),Sewer at Street
Water Public (Municipal),Water at Street
Schools
School District Detroit
Others
Tax ID W16I003548C50
Ownership Government Owned,Short Sale - No
Acceptable Financing Cash
Listing Terms Cash
Financing Cash