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12641 Elmdale St, Detroit, MI 48213

View Smart Contracts: Eth xDai

Total Investment: $ 1,309,935.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.05%

    Not including capital appreciation

  • Rent per Token

    $ 4.65 / year

  • Rent Start Date

    April 17, 2023

  • Token Price

    $ 51.37

  • Total Tokens

    25,500

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

    12641 Elmdale St, Detroit, MI 48213

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Conner

  • Construction Year

    1930

  • Stories

    3 Stories

  • Total Units

    23 Units

  • Bedroom/Bath

    23x1 Beds / 23x1 Baths

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 222,000.00

  • Gross Rent / month

    $ 18,500.00

  • Monthly Costs

    - $ 8,622.00
    • Property Management (8.00%)
      - $ 1,480.00
    • RealT Platform (2.00%)
      - $ 370.00
    • Maintenance Expenses
      - $ 1,550.00
    • Property Taxes
      - $ 1,667.00
    • Insurance
      - $ 455.00
    • Utilities
      - $ 3,100.00

  • Net Rent / month

    $ 9,878.00

  • Net Rent / year

    $ 118,536.00

  • Total Investment

    $ 1,309,935.00
    • Underlying Asset Price
      $ 1,045,000.00
    • Operating Expense Reimbursement (10%)
      $ 131,000.00
    • Initial Maintenance Reserve
      $ 37,000.00
    • Initial Renovation Reserve
      $ 96,000.00
    • Administrative Fees
      $ 1,000.00
    • Unrounded Listing Price
      $ 1,310,000.00
    • Rounding Difference
      - $ 65.00

  • Expected Income

    9.05%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    11,250

  • Foundation

    Masonry blocks

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Parking

    Street parking

  • Interior Size (sqft)

    13,137

  • Heating

    Complete HVAC

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Partial

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-12641-ELMDALE-ST-DETROIT-MI

  • Total Tokens

    25500

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    March 10, 2023

  • Issuer

    RealToken International 12641 Elmdale St Inc

  • Min. Investment Amount

    $51.37

  • Max. Investment Amount

    $1,309,935.00

  • Amount Raised

    $1,309,935.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

12641 Elmdale

This classic brick 23-unit multi-family is located east of the city, where we have already developed a concentric circle. The property is close to the neighborhoods of Grosse Pointe Park, Grosse Pointe and Grosse Pointe Farms where luxury properties are located. Our tenants can work in these properties as cleaners, gardeners, and maintenance workers.

Elmdale was acquired by its current seller in 2020. Shortly after, the seller renovated the roof and the top floor. To continue these improvements, we have budgeted $96,000 for our own renovations, which will bring the 15 units on the first two floors up to Section 8 standards. We have forecast a requirement of $6,000 per unit for a total of $90,000; the remaining $6,000 will be used to upgrade the common areas.

We estimate it will take two months to renovate and stabilize each floor, for a total of approximately four months to renovate and stabilize this property with an expected rental income of 9.05%.

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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