Description
Great Opportunity in Detroit's North End Community.Calling all investors! A completed restoration is needed. The Seller requires Proof of Funds to meet the estimated costs included with offer in order to purchase. Estimated rehab cost around $122,300 w/ siding or $262,657 w/brick. Please note that the DLBA 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. BATVAI
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3BEDS
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0.04ACRES
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1BATHS
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01/2 BATHS
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1,618SQFT
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$6$/SQFT
Description
Great Opportunity in Detroit's North End Community.Calling all investors! A completed restoration is needed. The Seller requires Proof of Funds to meet the estimated costs included with offer in order to purchase. Estimated rehab cost around $122,300 w/ siding or $262,657 w/brick. Please note that the DLBA 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. BATVAI
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