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11701 Morang Ave, Detroit, MI 48224

View Smart Contracts: Eth Gnosis

Total Investment: $ 1,576,960.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.54%

    Not including capital appreciation

  • Income per Token

    $ 5.20 / year

  • Income Start Date

    January 1, 2023

  • Token Price

    $ 49.28

  • Total Tokens

    32,000

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

    11701 Morang Ave, Detroit, MI 48224

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Denby

  • Construction Year

    1955

  • Stories

    2 Stories

  • Total Units

    32 Units

  • Bedroom/Bath

    8x2 ; 24x1 Beds / 32x1 Baths

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 299,400.00

  • Gross Rent / month

    $ 24,950.00

  • Monthly Costs

    - $ 11,095.00
    • Property Management (8.00%)
      - $ 1,996.00
    • RealT Platform (2.00%)
      - $ 499.00
    • Maintenance Expenses
      - $ 2,700.00
    • Property Taxes
      - $ 2,500.00
    • Insurance
      - $ 600.00
    • Utilities
      - $ 2,800.00

  • Net Rent / month

    $ 13,855.00

  • Net Rent / year

    $ 166,260.00

  • Total Investment

    $ 1,576,960.00
    • Underlying Asset Price
      $ 1,315,000.00
    • Sourcing Fee (10%)
      $ 157,711.11
    • Initial Maintenance Reserve
      $ 48,400.00
    • Initial Renovation Reserve
      $ 55,000.00
    • Administrative Fees
      $ 1,000.00
    • Unrounded Listing Price
      $ 1,577,111.11
    • Rounding Difference
      - $ 151.11

  • Expected Income

    10.54%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    37,462

  • Foundation

    Masonry

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Parking

    22 spaces in the back

  • Interior Size (sqft)

    15,948

  • Heating

    Forced Air

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Partial

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-11701-MORANG-AVE-DETROIT-MI

  • Total Tokens

    32000

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    November 23, 2022

  • Issuer

    RealToken International 11701 Morang Ave Inc

  • Min. Investment Amount

    $49.28

  • Max. Investment Amount

    $1,576,960.00

  • Amount Raised

    $1,576,960.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

11701 Morang

As you can see from the pictures, this new multi-family consists of 4 buildings side-by-side!  Built in 1955, 11701 Morang is located in the eastern part of the city very near 11750 Morang, a property we tokenized at the end of 2021.  This strategic acquisition continues to enhance our economies of scale in a very promising area of Detroit.  The tenants have easy access to major highways and the city center, as well as luxury neighborhoods such as Grosse Pointe Park, Grosse Pointe and Grosse Pointe Farms where they can work as cleaners, gardeners, and maintenance workers.

As you can see, we have budgeted $55,000 in renovation. We intend to use part of this budget to bring the last 11 units up to Section 8 standards.  In addition, the seller has already started to put in individual meters for the gas, and we will finish that work. With this installation, tenants will pay a large part of the utilities – the owner will no longer be responsible for the bulk of  these charges.

By purchasing tokens of this property, investors can diversify their risk due to potential rental vacancies, as 32 units make for a consistent expected rental income – in this case, a solid 10.03%.

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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