$21,500

Located in Detroit's historic Islandview neighborhood, this 3-bedroom, 1,970+ SF frame colonial presents an opportunity for residential rehabilitation. Zoned R2, the property offers convenient access to Downtown Detroit, nearby amenities, and major freeways. Property is being sold as-is with clear title. Interested purchasers must submit a complete proposal package for DLBA consideration, including proof of funds sufficient to cover the purchase price and rehabilitation costs, a detailed scope of work, and documentation of previous development or rehabilitation experience. All offers are subject to DLBA review and approval. 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 abatements and/or lot combinations 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 abatements on the purchase and development financing. Please refer to DLBA proposal guidelines