Experience the transformation of 1174 Chalmers, a single-family home with 3 bedrooms and 1.5 bathrooms in 1,460 square feet of living space. Situated on a 3,354 square-foot lot in the upcoming Riverbend neighborhood, the house enjoys proximity to the Detroit Merit Charter Academy, Monteith Detroit Public Library, and a growing scene of new boutiques and developments.
The revitalized Riverbend neighborhood is currently experiencing a hip transformation and ongoing gentrification. Though more sparsely populated than some neighboring areas, the community enjoys the momentum of numerous new construction projects, both residential and retail. In fact, 99% of houses in bad condition have been demolished. An urban orchard of apple trees has also been planted by Wolverine Human Services, and the neighborhood’s appeal is further boosted by a popular local farmers market on East Warren Avenue and a small playground on Goethe Street. Located just 7 miles from downtown Detroit near the US/Canada border, Riverbend offers plenty of convenience and lifestyle amenities.
For token-holders, Chalmers offers a solid expected rental income of 10.16%. Acquired for $83,000, this property’s listing price includes a significant $48,000 renovation budget allocated for essential infrastructure fixes, painting, and interior improvements. Its proximity to other RealT properties, such as 1 Holdings Kitchener and 1 Holdings Conner, provides token-holders with economy-of-scale benefits, contributing to the ongoing revival in the dynamic Riverbend neighborhood.