5365 Seneca St, Detroit, MI 48213 2951

Description

Development opportunity in Detroit's historic Pingree Park neighborhood. Bring your vision to this spacious house offering an exciting opportunity for an investor, developer, or experienced rehabber. Featuring generous living space and plenty of potential for renovation and value creation, this property is ready for its next chapter. Conveniently located close to Downtown Detroit, Indian Village, West Village, and Eastern Market. Property is being sold as-is with clean title. Buyer and buyer's agent to verify all measurements, property information, and redevelopment requirements. Vacant lot next door 5359 Seneca is included in this sale. ZONED R2. Interested buyers must submit a complete proposal package for DLBA approval, including a project proposal, proof of funds, site plan or concept drawing, and documentation of previous development experience. Sale is contingent upon execution of a DLBA Development Agreement. The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This provision may be incompatible with certain tax abatements, lot combinations, or assemblages. Waiver requests may be considered on a case-by-case basis and may require a payment in lieu of taxes, as determined following DLBA review of the development pro forma and financing.