6176 16TH Street, Detroit, MI 48208

Great development opportunity and includes 6164 16th St. W10I006211S.  All offers must be supported by proof of funds for both the purchase price and construction cost. Site includes adj. vacant lot with fence.  Inspectors estimate of minimum cost of repairs at $180,000. 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 abatements 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 abatements on the purchase and development financing.