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10511 Whittier Ave, Detroit, MI 48224

View Smart Contracts: Eth xDai

Total Investment: $ 349,300.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.81%

    Not including capital appreciation

  • Rent per Token

    $ 4.89 / year

  • Rent Start Date

    March 1, 2023

  • Token Price

    $ 49.90

  • Total Tokens

    7,000

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

We are targeting the above yield 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.

  • Property Type

    Multi Family

  • Full Address

    10511 Whittier Ave, Detroit, MI 48224

  • Neighborhood

    Yorkshire Woods

  • Construction Year

    1958

  • Stories

    2 Stories

  • Total Units

    8 Units

  • Bedroom/Bath

    8x1 Bed / 8x1 Bath

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    Section 8

  • Rent Subsidy Pays...

    38%

Property Financials

  • Gross Rent / year

    $ 62,400.00

  • Gross Rent / month

    $ 5,200.00

  • Monthly Costs

    - $ 2,345.00
    • Property Management (8.00%)
      - $ 416.00
    • RealT Platform (2.00%)
      - $ 104.00
    • Maintenance Expenses
      - $ 330.00
    • Property Taxes
      - $ 600.00
    • Insurance
      - $ 195.00
    • Utilities
      - $ 700.00

  • Net Rent / month

    $ 2,855.00

  • Net Rent / year

    $ 34,260.00

  • Total Investment

    $ 349,300.00
    • Underlying Asset Price
      $ 293,000.00
    • Operating Expense Reimbursement (10%)
      $ 34,933.33
    • Initial Maintenance Reserve
      $ 10,400.00
    • Initial Renovation Reserve
      $ 10,000.00
    • Administrative Fees
      $ 1,000.00
    • Unrounded Listing Price
      $ 349,333.33
    • Rounding Difference
      - $ 33.33

  • Expected Income

    9.81%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,098

  • Foundation

    Concrete Slab

  • Exterior Walls

    Brick

  • Roof Type

    Shingles

  • Parking

    Street parking

  • Interior Size (sqft)

    6,496

  • Heating

    Complete HVAC

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Well-maintained

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-10511-WHITTIER-AVE-DETROIT-MI

  • Total Tokens

    7000

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    January 31, 2023

  • Issuer

    RealToken International 10511 Whittier Ave Inc

  • Min. Investment Amount

    $49.90

  • Max. Investment Amount

    $349,300.00

  • Amount Raised

    $349,300.00

  • Offering Percent (of Total Tokens)

    100.00%

Rent Assistance!

This property's rent is partly or wholly paid by the U.S. Federal Government through HUD Section 8.

The rent of Section 8 properties is usually exceptionally stable.

Learn More

About the Property

10511 Whittier

In recent community calls, we have indicated that our upcoming properties will showcase the work we have done over the past few years in concentric circle acquisition and economies of scale. 10511 Whittier is a perfect example!

Whittier allows you to diversify your investment among eight units with good tenants while earning an expected rental income of 9.81%.  It is also the fifth acquisition on this street, and we have tokenized other nearby properties such as 10147 Somerset and 9717 Everts.  This strategy is producing real benefits, including reduced property management and repair costs, and every dollar invested in one of these properties benefits the perceived value of the other properties!

Map

Property Records

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Why Detroit?

INVEST RIGHT

Detroit, one of the fastest growing major cities in America and best kept real estate secrets, is rich with history, and  possesses a colorful cultural fabric. Despite being among the 15 largest metro areas in the US, Detroit drivers spend the least amount of time in traffic during peak periods. Beyond automotive innovation, Detroit is home to dozens of startup incubators, and is surging on Inc.’s list of top 50 cities to start a business*. Root for the Lions, Tigers, Pistons and Red Wings, or enjoy the outdoors with over 200 miles of hiking trails nearby, 9 state parks, and over 3200 miles of coastline to explore.

There’s something for everyone here, because Detroit is for everybody.

The Interests, in the form of Series #1 RealTokens and future series of RealTokens, being offered are highly speculative in nature, involve a high degree of risk and should be purchased only by persons who can afford to lose their entire investment. There can be no assurance that the Company’s business objectives will be achieved or that a secondary market would ever develop for the Interests, whether via the RealToken Website, via third party registered broker-dealers or otherwise. Investing in private placements requires high risk tolerance, low liquidity concerns, and long-term commitments. The Interests being sold are not FDIC insured, may lose value, and there is no bank or other guarantee.

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