1544 W Philadelphia Street, Detroit, MI 48206

Property Description

Detroit Land Bank Authority opportunity in the sought-after Virginia Park neighborhood! This historic home is ready for a complete renovation and offers endless potential for investors, developers, or owner-occupants looking to restore a classic Detroit property. Ideally located just minutes from New Center, Midtown, the Motown Museum, Henry Ford Hospital, Wayne State University, and Downtown Detroit. The surrounding area continues to experience significant residential redevelopment, new investment, and neighborhood revitalization while maintaining its historic character. Convenient access to major freeways, public transit, parks, dining, shopping, and cultural attractions makes this an exceptional opportunity to invest in one of Detroit's growing communities. Purchaser to comply with all Detroit Land Bank Authority requirements. Sold as-is.Located in an area experiencing continued residential investment and revitalization Purchaser to verify allmeasurements, zoning, and development requirements. DLBA Disclosure: DLBA is entitled to a tax capture for the 5 tax years subsequent totransferring ownership of the property. The tax capture may be incompatible with tax abatements that are otherwise available to theselected purchaser. DLBA will review requests to waive its tax capture rights and may require a payment in lieu of taxes to approve suchrequests. The payment will be determined upon reviewing the development proforma and effect of any tax abatement on the purchase anddevelopment financing.