Description
Looking for experienced investors. This 3 story apartment building is sold with the adjacent lot (3290 Rochester).A completed restoration is needed. The Seller requires proof of funds to purchase. An estimated cost of renovation along with proof of funds to meet the estimated costs will also need to be included with offer. Buyer will need to provide proof of their ability to complete this type of project.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 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.
Location
IDX provided courtesy of Realcomp II Ltd. via site owner and the originating MLS listed above, ©2022 Realcomp II Ltd. Shareholders. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Updated: 25th March, 2023 4:45 PM (UTC)
Listing Agent: Leonard A Pickett III
Listing Office: RCH Brokerage Legacy Inc
