540 Concord Street, Detroit, MI 48207

Listing Description

The newest offering from Detroit Land Bank Authority has incredible potential for investors and developers alike. This bundled package includes 4 congruent lots - totalling 14,256 sq ft or roughly 0.33 acres. The addresses (554 Concord, 540 Concord, 548 Concord, 534 Concord) are all to be sold together for a total list price of $40,000. These vacant lots provide space for expansion or new construction. Conveniently located in a growing area, this is a rare chance to acquire multiple properties with endless possibilities. Don't miss out on this lucrative investment—schedule your showing today! Please note that the DLBA 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.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) 3. Scope of Work (breakdown of renovation costs) 4. proof of Previous Projects: (include addresses and photos). The DLBA is seeking proposals for small- to medium-scale infill development to increase housing supply, restore the urban fabric, and improve density and walkability. Interested buyers should consult the proposal guidelines for new build opportunities. 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.

Source: SparkMLS

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