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13523 Glenside Rd, Cleveland, OH 44110

View Smart Contracts: Eth xDai

Total Investment: $ 394,212.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.00%

    Not including capital appreciation

  • Rent per Token

    $ 5.05 / year
  • Rent Start Date

    January 16, 2023
  • Token Price

    $ 50.54
  • Total Tokens

    7,800

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

    13523 Glenside Rd, Cleveland, OH 44110
  • Neighborhood

    South Collinwood
  • Construction Year

    1920
  • Stories

    2 Stories
  • Total Units

    8 Units
  • Bedroom/Bath

    4x2 ; 4x1 Bed / 8x1
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $ 55,740.00
  • Gross Rent / month

    $ 4,645.00
  • Monthly Costs

    - $ 1,361.50
    • Property Management (8.00%)
      - $ 371.60
    • RealT Platform (2.00%)
      - $ 92.90
    • Maintenance Expenses
      - $ 150.00
    • Property Taxes
      - $ 207.00
    • Insurance
      - $ 140.00
    • Utilities
      - $ 400.00
  • Net Rent / month

    $ 3,283.50
  • Net Rent / year

    $ 39,402.00
  • Total Investment

    $ 394,212.00
    • Underlying Asset Price
      $ 255,000.00
    • Operating Expense Reimbursement (10%)
      $ 39,421.11
    • Initial Maintenance Reserve
      $ 9,290.00
    • Initial Renovation Reserve
      $ 90,000.00
    • Administrative Fees
      $ 500.00
    • Unrounded Listing Price
      $ 394,211.11
    • Rounding Difference
      $ 0.89
  • Expected Income

    10.00%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    7,800
  • Foundation

    Masonry
  • Exterior Walls

    Brick
  • Roof Type

    Torch Down Flat Roof
  • Parking

    Street Parking
  • Interior Size (sqft)

    6,690
  • Heating

    Forced Air / Gas
  • Cooling

    None
  • Building Class

    C
  • Renovated

    No
  • Property Manager

    ORG Rentals, LLC

Blockchain

  • Identifier

    REALTOKEN-S-13523-GLENSIDE-RD-CLEVELAND-OH
  • Total Tokens

    7800

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    November 3, 2022
  • Issuer

    RealToken International 13523 Glenside Rd Inc
  • Min. Investment Amount

    $50.54
  • Max. Investment Amount

    $394,212.00
  • Amount Raised

    $394,212.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

13523 Glenside

We are pleased to offer this new Cleveland property!  Built in 1920, Glenside is an 8-unit multi-family with the additional bonus of 2 units that can be developed in the basements. As you can see from the pictures, the first basement unit already has windows, while the other unit has yet to start work.  

We have budgeted $90,000 in renovations to complete these two basement units as well as some standard renovations in the other units to bring them up to Section 8 standards. However, in Ohio the approval process for basement development is much longer than in Detroit or Chicago, so it will take several months before work can begin.  We believe this property offers very interesting opportunities once stabilized.

Map

Property Records

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Why Cleveland?

Invest Right

Cleveland is a city transformed. Once dependent on the manufacturing industry for its prosperity, this vibrant midwest city has reinvented its economy and diversified into a myriad of industries including service, high-tech, blue- and white-collar employment. This makes the city stronger overall, and poised for growth wherever the future takes it.

Cleveland’s recent building boom is driven by its excellent rental market and the growing tourism and convention industry, and it has been identified as a top location for college graduates to start their careers. Add to that the natural beauty of Lake Erie’s southern shore, the Rock and Roll Hall of Fame, one of the world’s finest orchestras, and lively major-league sports teams, and it’s easy to see why Cleveland is the place to be.

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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