1000 Florida Ave, Akron, OH 44314

Asset Price: $235,960.00

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Property Highlights

  • Expected Yield

    7.45%
  • Expected Yield After Renovation & Stabilization

    11 - 12%
  • Rent per Token

    $4.40 / year
  • Token Price

    $58.99
  • Total Tokens

    4,000
  • Property Type

    Multi Family
  • Neighborhood

    Kenmore
  • Square Feet

    4,510
  • Lot Size

    6,534
  • Rented?

    Fully Rented
  • Section 8?

    No

All financial statements of property yield are best estimates based on current conditions, and can change at any time.

We are targeting the above equity multiple for investors; however, no assurance can be given that you will obtain any return on investment, and there is a risk that you can lose your entire investment.

Financials

  • Gross Rent / year

    $29,100.00
  • Gross Rent / month

    $2,425.00
  • Monthly Costs

    - $959.17
    • Property Management (8.00%)
      - $194.00
    • RealT Platform (2.00%)
      - $48.50
    • Property Taxes
      - $150.00
    • Insurance
      - $66.67
    • Utilities
      - $500.00
  • Net Rent / month

    $1,465.83
  • Net Rent / year

    $17,589.96
  • Asset Price

    $235,960.00
  • Expected Yield

    7.45%
  • Expected Yield After Renovation & Stabilization

    11 - 12%

About the Property

1000 Florida Ave is our first property in Ohio, and we see enormous potential in it! This vintage brick multi-family contains 4 main units and another basement unit, making it a “4+1” quad-plex that sits adjacent to a beautiful park on a quiet residential street in the Kenmore neighborhood of Akron.

To realize this property’s potential, RealT is investing $50,000 in updates, repairs, and beautification over the next six months, with the intent of increasing the overall rent from $2425/month to $3300/per month. This will be bring the property in line with its local market, and should increase the Expected Yield of the property to almost 12% for initial investors! It will also allow us to bring the property up to Section 8 standards, which will allow us to secure rent-guaranteed tenants if that is appropriate.

To keep tabs on the ongoing renovations, please follow us on Discord and Telegram (English or French)!

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