Description
Perfect for investors. DLBA-owned 3-bedroom, 1.5-bath residential property located in the Farwell neighborhood. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos).The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context.DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.
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3BEDS
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0.09ACRES
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1BATHS
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11/2 BATHS
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1,065SQFT
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$15$/SQFT
Description
Perfect for investors. DLBA-owned 3-bedroom, 1.5-bath residential property located in the Farwell neighborhood. Sale is subject to approval by the Detroit Land Bank Authority (DLBA) and execution of a DLBA Renovation/Development Agreement. Purchaser must submit a complete proposal to DLBA, including intended use and renovation timeline, proof of funds, scope of work with cost breakdown, and documentation of prior renovation projects (addresses and photos).The DLBA recommends reviewing all applicable Neighborhood Framework Plans through the City of Detroit Planning and Development Department for additional neighborhood context.DLBA retains the right to tax recapture for five (5) years following transfer of ownership. This may be incompatible with certain tax abatements or lot combinations. Waiver requests will be reviewed on a case-by-case basis and may require payment in lieu of taxes, subject to review of development pro forma and financing.
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