Neighborhood: GRANDYS PLAT OF SUB OF LOT 56 & LOTS 64 & 66
Investment Opportunity in this multi-family located near Detroit's Poletown East neighborhood, near Warren Meldrum Park, Callahan Playground, and Faygo Beverages! Estimated rehab 156k. Sale includes 7 adjacent lots 4402, 4410, 4418, 4424, 4428, 4434 & 4440 Grandy. Sale contingent on buyer/seller executed development agreement. 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 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.