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About This Home
This land at 8647 SCHAEFER in Detroit, MI is listed for $71,164 (0.82 acres).
This property is zoned R3.The DLBA is seeking proposals that for small- to medium-scale infill development with the goal of increasing housing supply and restoring the urban fabric, as well as density and walkability. Interested buyers should consult DLBA 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. All offers must be supported by Proof of Funds (funds should meet or exceed development costs).
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. BATVAI. Please see attached documents for DLBA guidelines.
Key Features
- 0.82 acre lot
Location
8647 SCHAEFER
Detroit, MI 48228
MORE THAN ONE LEGAL INVOLVED
Questions & Answers
This 0-bedroom, 0-bathroom land at 8647 SCHAEFER is listed at $71,164. The estimated monthly payment is $308 based on 20% down at 6.5% interest.
Key features include: 0.82 acre lot.
This property is listed by Leonard A Pickett III and can be reached at (248) 440-2268 or lpickettiii@rchlegacy.com.
