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5040 FERNWOOD ST DETROIT, MI 48204
- Multi-family (5 or more units) / Resale (MLS)
Property Details for 5040 FERNWOOD ST, DETROIT, MI 48204
Features
- Stories: 2
- Heating: Forced air unit
- Exterior Walls: Brick
Facts
- Year Built: 01/01/1916
- Property ID: 890884885
- MLS Number: 20240040769
- Parcel Number: 16003548-50
- Property Type: Multi-family (5 or more units)
- County: Wayne
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. 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 Detroits 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.
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Property Brokerage:
RCH Brokerage Legacy, Inc.
21411 Civic Center Dr Ste 2200
Southfield
MI
48076
Copyright © 2025 Realcomp Limited II. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.
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