2546 Forest Avenue, Detroit, Michigan 48208

$60,000

Property Details

MLS#: 20261022764
Bedrooms: 2
Bathrooms: 1
Square Feet: 1,350
Price per Sqft: $44
Lot Size: 0.11 acres
Year Built: 1913
Property Type: Residential
Status: Active
Days on Market: 67

Market Analysis

Estimated Value (CMA): $18,900
Area Avg Price/Sqft: $14
This Property: $44/sqft ($30 above area average)
Price Position: +214.0% vs comparable homes
Comparable Properties Analyzed: 1

Description

2546 W. Forest + 2540 W. Forest present a unique opportunity to acquire a structure in need of renovation along with an adjacent vacant lot. The DLBA is seeking a qualified proposal for the rehabilitation of 2546 W. Forest, with 2540 W. Forest to be included as part of the overall site plan and redevelopment approach. Proposals should clearly outline the scope of renovation for the existing structure, the intended use of the additional lot, project costs, timeline, and proof of funds sufficient to support completion. The strongest proposals will demonstrate a feasible redevelopment plan, relevant experience, and a cohesive vision for both parcels that contributes positively to the surrounding neighborhood. 2546 & 2540 W Forest are part of a bundle package and must be sold together for $60,000.00 Please note that the DLBA 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 abatement 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 abatement on the purchase and development financing.

Location

This property is located in Detroit, Michigan. Detroit is part of the Metro Detroit area, offering convenient access to employment, schools, shopping, and recreation.

Frequently Asked Questions

What is the price of 2546 Forest Avenue?

2546 Forest Avenue is listed at $60,000, or $44 per square foot.

How many bedrooms does 2546 Forest Avenue have?

This property has 2 bedrooms and 1 bathrooms, with 1,350 square feet of living space.

Schedule a Showing

Interested in this property? Contact Sonic Realty to schedule a private showing. Our experienced agents can help you navigate the home buying process.

Phone: (313) 466-2430

Email: info@sonicrealty.com

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