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13835 La Salle Blvd, Detroit, MI 48238

View Smart Contracts: Eth Gnosis
Renovation!

Huge opportunityStrong rents projected

Total Investment: $ 752,100.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

Questions/Need Help? Email Us.

Property Highlights

  • Renovated Income

    13.65

    Target date for stabilization: April 15, 2023

  • Current Expected Income

    8.06% Not Rented

    Not including capital appreciation

  • Income per Token

    $ 4.04 / year

  • Income Start Date

    March 15, 2023

  • Token Price

    $ 50.14

  • Total Tokens

    15,000

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

    13835 La Salle Blvd, Detroit, MI 48238

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Durfee

  • Construction Year

    1929

  • Stories

    3 Stories

  • Total Units

    17 Units

  • Bedroom/Bath

    13x1, 4x2 Bed / 17x1 Bath

  • Rental Type

    Long-term

  • Rented?

    No

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 74,400.00

  • Gross Rent / month

    Not Rented $ 6,200.00

  • Monthly Costs

    - $ 1,150.00
    • Property Taxes
      - $ 850.00
    • Utilities
      - $ 300.00

  • Net Rent / month

    $ 5,050.00

  • Net Rent / year

    $ 60,600.00

  • Total Investment

    $ 752,100.00
    • Underlying Asset Price
      $ 230,000.00
    • Sourcing Fee (10%)
      $ 75,211.11
    • Initial Maintenance Reserve
      $ 24,900.00
    • Initial Renovation Reserve
      $ 420,000.00
    • Miscellaneous Costs
      $ 2,000.00
    • Unrounded Listing Price
      $ 752,111.11
    • Rounding Difference
      - $ 11.11

  • Current Expected Income

    Not Rented 8.06%

    Not including capital appreciation

  • Renovated Expected Income

    13.65%

    Target date for stabilization: 2023-04-15

Property Details

  • Lot Size (sqft)

    8,712

  • Foundation

    Concrete

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt / Hip Style

  • Parking

    Street Parking

  • Interior Size (sqft)

    13,430

Blockchain

  • Identifier

    REALTOKEN-S-13835-LA-SALLE-BLVD-DETROIT-MI

  • Total Tokens

    15000

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    March 31, 2022

  • Issuer

    RealToken International 13835 LaSalle Blvd., Detroit, MI 48238 Inc

  • Min. Investment Amount

    $50.14

  • Max. Investment Amount

    $752,100.00

  • Amount Raised

    $752,100.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

13835 La Salle

13835 La Salle is a 17-unit multi-family located in the neighborhood of Durfee, comfortably close to highways and major streets as well as an area hospital; we expect this property to be a very appealing option for the hospital’s many employees. Ford Motor Company built this neighborhood to be a peaceful home for its executives, and it is situated close to Detroit’s sought-after neighborhoods of Royal Oak and Ferndale, which are comparable to the Marais in Paris.

La Salle is a property of the same type as 3747 Scovel: purchased at a low price for the purpose of renovation. The whole area is undergoing full rehabilitation, and the demand for property is growing; for comparison, the 30-unit property next door sold for $1,250,000, and also needs to be renovated before it can be rented.

We see enormous potential in this 1929 gem, and starting in December of 2022 we expect a strong income of 13.65%. Critically, this post-renovation expected income is based only on the expected rental income stream, and does not include capital appreciation from property improvements or market forces. The time to get in is now.

Our team of competent, experienced handymen are ready to start on the 6 months of planned renovations, and we have budgeted $ 420,000 for the work. We expect it to take approximately 3 months to fully rent the building once renovations are completed, and we are targeting a Gross Annual Rent of $ 149,400 at that time (~ Dec. 1 2022).

Here is the renovation breakdown:
  • Units: $ 144,500 (plumbing fixtures, lighting fixtures, cabinets, counter tops, painting, flooring, blinds, drywall repair )
  • Power Distribution, Sub Panel, Lighting: $ 78,750
  • Drywall, Insulation, Paint & Flooring Common Areas: $59,500 (scope of work to include drywall 90 minute burn 5/8″, trim and moldings, unit entry doors, fire doors, signage, paint, lighting and flooring. 3 floors)
  • Electrical Meter Bank And Service Entry: $ 34,700 (materials and labor)
  • Windows, Building Entry Doors: $ 16,000
  • Trash Removal: $ 14,800
  • Commercial 100-Gal Quick Recovery Water Heater: $13,500
  • Main Water Distribution: $ 11,500 (current water main supply interior is CPVC. this will be replaced with zinc coated galvanized 2″ water supply)
  • Masonry: $ 8,500 (tuck point repair)
  • Reserve: $ 38,250

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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