Build your dream home or a multi-family development to suit. This opportunity is located near the Woodward corridor with convenient access to local businesses and institutions. The seller is the Detroit Land Bank Authority. Buyer must submit an application to purchase, including construction plans or precedent architectural images of proposed development and financing plan with proof of funds or a pre-approval letter on a new-construction loan. 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 request 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.

  • MLS# 218078514
  • Sub-Type Resale
  • Status Active
  • Days On Site 118
Zoning Residential
Acreage 0.14
Listing Provided By:
Leonard A Pickett  of  RCH Brokerage Legacy Inc
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this listing $30,000
75.19%
$120,925 in 48202
this listing 118 on site
126.92%
52 on site in 48202

Location

State MI
County Wayne
City Detroit
Zip Code 48202
Area Det: Livernois-I75 6-Gd River

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