3432 BEALS ST Detroit MI 48214 MLS #20240026515

THIS BUNDLE INCLUDES 3432 BEALS, 3442 BEALS, 3448 BEALS, 3456 BEALS AND MUST BE PURCHASED TOGETHER. TOTAL LISTING PRICE IS $20,000.00.
Check out this latest offering from the Detroit Land Bank Authority located in the heart of Islandview neighborhood. This FOUR lot bundle is conveniently located 7 minutes from Eastern Market and only a short distance to Downtown Detroit. The City of Detroit announced they are investing over $5 million to improve the up-and-coming area. Check out the nearby New Butzel Playfield as well as improvements to Marcus Garvey academy. 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.