5700 TOWNSEND Street

6-unit apartment building w/lots of potential. 4 units have 2 bedrooms, 2 units have 1 bedroom. Property needs work, but there is plenty of room to grow in this up and coming neighborhood. 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 and/or lot combinations 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. Please refer to DLBA proposal guidelines.