4-Unit Investment Opportunity in Dexter-Linwood Neighborhood – Detroit Land Bank Owned Fantastic opportunity to restore this four-unit property in the Dexter-Linwood neighborhood of Detroit. Each unit features two bedrooms and one bath, making it ideal for a redevelopment project with strong rental potential. The parcels are government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA also recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood. How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter),… Read More 3. Scope of Work (breakdown of renovation costs), 4. Proof of Previous Projects: (include addresses and photos). Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing. BATVAI. IDRBNG. Read Less
Listing information is provided in part through IDX via MiRealSource and is deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Listing is courtesy of Keller Williams Realty-Great Lakes, 586-541-4000, the brokerage and MiRealSource Shareholder that originated the listing.
Listing Snapshot
Days Online
190
Last Updated
Property Type
Multi-Family
Square Ft.
3,696
Lot Size
0.07 Acres
MLS Number
60940337
Additional Details
Property Access
Paved Street
Building
3,696 square feet, 4 total units, Built in 1924, Style: 2 Story
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Monthly Payment
$0
(Source: Home Junction)
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