118 Arizona StHighland Park, MI 48203

Property Details for 118 Arizona St

Year built

1921

Lot size

0.14 AC

Property size (Sq ft)

2,868 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a two-unit apartment building situated on a 0.14-acre lot at 118 W Arizona St, Highland Park, MI 48203, within Wayne County. Built in 1921, this Colonial-style brick building boasts a combined 2,868 square feet of living space, including a 1,392 square foot unfinished basement. The property features three parking spaces and is connected to public sewer and water. Heating is provided by natural gas hot water. The property is zoned Residential and requires a full rehabilitation. Potential buyers must submit a detailed proposal including rehabilitation plans, a financing plan with proof of funds or pre-approval for a new construction loan. Importantly, this sale includes a vacant lot at 128 Arizona Street, increasing the total land area significantly. Note that the Downtown Development Authority (DLBA) holds tax capture rights for five years post-sale, which may impact tax abatement options. The DLBA will review requests to waive these rights, potentially requiring a payment in lieu of taxes. Detailed DLBA requirements and offer submission information are available in attached documents. This is a unique opportunity for a buyer with a vision for renovation and redevelopment.

Location Insight

City

Highland Park

County

Wayne

State

Michigan

Latitude

42.4187

Longitude

-83.104

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