17575 STOEPEL ST Detroit MI 48221 MLS #20240091690

Bring your creative ideas to remodel this brick home located in Detroit’s historic U of D, Marygrove District. Zoned R2. House sits in walking distance of the ” Avenue of Fashion.” This colonial features 5 bedrooms and 3 baths. Buyer must submit a proposal to purchase. This should include detailed plans for rehab & financing plan w/ Proof Of Funds OR Pre- Approval letter. 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. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase and development financing. BATVAI. See attached documents for DLBA requirements and offer submission information.