Calling All Investors!

Calling All Investors! Here’s your next opportunity to dive into a promising project in the beautiful Russell Woods Subdivision. This home, while in need of a complete rehabilitation, presents an exciting canvas for those with a vision to transform it into a stunning residence.

Please note that the sale is contingent upon a buyer/seller executed development agreement, ensuring that this is not just any investment, but a strategic one. It’s essential to be aware that the Detroit Land Bank Authority (DLBA) is entitled to a tax capture for the five tax years following the transfer of ownership. This tax capture could affect your investment strategy, as it may be incompatible with available tax abatements and lot combinations.

The DLBA will carefully review any requests to waive its tax capture rights. Depending on your development plans, they may require a payment in lieu of taxes to approve such requests. The payment will be determined after reviewing your development proforma and assessing how any tax abatements might influence your purchase and financing.

With the right vision and expertise, this property has the potential to yield significant returns. If you’re ready to take on a rewarding project in a desirable neighborhood, this investment could be the perfect fit. Don’t miss out—explore this opportunity today!