Description
Incredible development/investment opportunity for a historic home in the Detroit Art Center area without the historic district constraints. 3,700+ Sq Ft of living space that includes 7 bedrooms and 3.5 baths with additional common area/flex rooms on each floor. Renovation is well underway and presents a tremendous opportunity for someone to capitalize on its completion. The space is clean and organized for an immediate jump-start to completing your project and can be lived in while doing so. Numerous development projects in the area, both in progress and completed, contribute to a trajectory of increasing values. The locations proximity to the DIA, WSU, CCS, freeways, mass transit, retail and dining make it superb for rentals. Best of all, this home qualifies for NEZ-R and has already been approved by the City of Detroit and is in the final stages of State issuance of a 15-year tax abatement. The NEZ-R(ehab) certificate will freeze the value of the home prior to the improvements being made for 15 years which translates to extremely low taxes with no homestead requirement. Full documentation to be provided upon offer acceptance. Alley access and rear supports a garage/accessory dwelling unit. Enjoy the photos but come experience the space. If you have a vision, it can be realized here.
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7BEDS
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0.16ACRES
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3BATHS
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11/2 BATHS
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3,756SQFT
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$133$/SQFT
Description
Incredible development/investment opportunity for a historic home in the Detroit Art Center area without the historic district constraints. 3,700+ Sq Ft of living space that includes 7 bedrooms and 3.5 baths with additional common area/flex rooms on each floor. Renovation is well underway and presents a tremendous opportunity for someone to capitalize on its completion. The space is clean and organized for an immediate jump-start to completing your project and can be lived in while doing so. Numerous development projects in the area, both in progress and completed, contribute to a trajectory of increasing values. The locations proximity to the DIA, WSU, CCS, freeways, mass transit, retail and dining make it superb for rentals. Best of all, this home qualifies for NEZ-R and has already been approved by the City of Detroit and is in the final stages of State issuance of a 15-year tax abatement. The NEZ-R(ehab) certificate will freeze the value of the home prior to the improvements being made for 15 years which translates to extremely low taxes with no homestead requirement. Full documentation to be provided upon offer acceptance. Alley access and rear supports a garage/accessory dwelling unit. Enjoy the photos but come experience the space. If you have a vision, it can be realized here.
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Data last updated: 2023-03-30T10:50:37.34.