Pending
503 LAKEWOOD Street, Detroit, MI 48215
$10,000
MLS # 20240043034 (Realcomp)
0.12 acres
1 / 4
Listing Description
Great property for infill building located in the Jefferson Chalmers NEZ site. Buyer must submit an app to purchase, including construction plans or precedent agriculture images of proposed development & financing plan w/ POF OR Pre- App letter on a new construction loan. This property is within walking distance to the Q-Line and New Center Area. 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. Please see attached documents for DLBA requirements and offer submission information. BATVAI
Source: SparkMLS
About this home
Currently offered at $10,000.
Fiber internet is available at this address with download speeds up to 5,000 Mbps across 8 providers. Electric service is provided by DTE Electric Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeLand
Bathrooms0
Lot Size0.12 acres
Location
CityDetroit
Zip Code48215
CountyWayne
School DistrictDetroit
Sale & Financing
Listed6/23/2024
Terms AcceptedCash
Source: SparkMLS
Tax Information
Annual Tax$0
Tax Year2025
Assessed Value$0
Parcel #21055010.
Source: Public Records
Legal Description
W LAKEWOOD 54 LAKEWOOD BLVD ADDITION SUB L30 P6 PLATS, W C R 21/401 40 X 129.63A
Property Records
FEMA Flood Zone: Zone AE — 100-year floodplain
Flood insurance required for federally backed mortgages
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Leonard A Pickett
RCH Brokerage Legacy Inc
Frequently Asked Questions about 503 LAKEWOOD Street, Detroit, MI 48215
What school district is 503 LAKEWOOD Street, Detroit, MI 48215 in?
Per MLS# 20240043034, this property is served by Detroit. In Michigan, school district boundaries are set by the state and do not always follow city limits.
What financing options are available for 503 LAKEWOOD Street, Detroit, MI 48215?
Per MLS# 20240043034, the seller has indicated this property accepts the following financing types: Cash. Financing acceptance is subject to change — confirm with the listing agent.
Is 503 LAKEWOOD Street, Detroit, MI 48215 eligible for USDA financing?
Per USDA Rural Development boundary data, 503 LAKEWOOD Street, Detroit, MI 48215 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 503 LAKEWOOD Street, Detroit, MI 48215 is in flood zone AE (high risk). Flood insurance is required for federally-backed mortgages in this zone. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Is fiber internet available at 503 LAKEWOOD Street, Detroit, MI 48215?
Per FCC broadband data, this property has access to fiber internet service. The maximum advertised download speed is 5.0 Gbps. 8 internet providers serve this address. Confirm availability and speeds directly with providers.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: DTE Electric Company. Gas: DTE Gas Company. Confirm service details directly with providers.
How safe is this area?
Per our practice, crime and safety data should be obtained directly from the authoritative source. Wayne County law enforcement agencies participate in CLEMIS (Courts and Law Enforcement Management Information System) for public safety records.
Map
Tax Estimate
$
Municipality: Detroit
School district: DETROIT CITY SCHOOL DISTRICT
County: Wayne
Estimate based on SEV for a new buyer (taxable value resets to SEV on transfer). Actual taxes may vary. MI Treasury PT Estimator
Mortgage Calculator
$
%
$
$
$
Monthly payment$65
Principal & interest$65
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Internet
FiberDownload
5 Gbps
Upload
5 Gbps
FiberCableLicensed Fixed WirelessGSO SatelliteSatelliteDSL
8 providers at this address
FCC Broadband Data Collection (Dec 2025). Max advertised speeds.
Utilities
DTE Electric Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
503 LAKEWOOD Street, Detroit, MI 48215
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Neighborhood
East Riverside
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Community
Detroit
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County
Wayne County
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