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17310 Bentler St, Detroit, MI 48219

View Smart Contracts: Eth Gnosis

Total Investment: $ 732,096.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    8.97% Partially Rented

    Not including capital appreciation

  • Income per Token

    $ 4.56 / year
  • Income Start Date

    November 1, 2023
  • Token Price

    $ 50.84
  • Total Tokens

    14,400

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

    17310 Bentler St, Detroit, MI 48219
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Holcomb Community
  • Construction Year

    1926
  • Total Units

    14 Units
  • Bedroom/Bath

    14x1 Bed / 14x1 Bath
  • Rental Type

    Long-term
  • Rented?

    13 / 14 Units
  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 128,400.00
  • Gross Rent / month

    Partially Rented $ 10,700.00
  • Monthly Costs

    - $ 5,225.00
    • Property Management (8.00%)
      - $ 856.00
    • RealT Platform (2.00%)
      - $ 214.00
    • Maintenance Expenses
      - $ 1,000.00
    • Property Taxes
      - $ 1,055.00
    • Insurance
      - $ 300.00
    • Utilities
      - $ 1,800.00
  • Net Rent / month

    $ 5,475.00
  • Net Rent / year

    $ 65,700.00
  • Total Investment

    $ 732,096.00
    • Underlying Asset Price
      $ 590,000.00
    • Sourcing Fee (10%)
      $ 73,211.11
    • Initial Maintenance Reserve
      $ 22,400.00
    • Initial Renovation Reserve
      $ 40,000.00
    • Administrative Fees
      $ 1,500.00
    • Miscellaneous Costs
      $ 5,000.00
    • Unrounded Listing Price
      $ 732,111.11
    • Rounding Difference
      - $ 15.11
  • Expected Income

    Partially Rented 8.97%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    11,979
  • Foundation

    Masonry
  • Exterior Walls

    Brick
  • Roof Type

    Asphalt
  • Interior Size (sqft)

    7,860
  • Heating

    Space Heaters, Steam w/ Boiler
  • Building Class

    C
  • Renovated

    Yes
  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-17310-BENTLER-ST-DETROIT-MI
  • Total Tokens

    14400

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    September 1, 2023
  • Issuer

    RealToken International 17310 Bentler St Inc
  • Min. Investment Amount

    $50.84
  • Max. Investment Amount

    $732,096.00
  • Amount Raised

    $732,096.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

17310 Bentler
Uncover the Opportunities

Located in the heart of Detroit, MI, 17310 Bentler is a 14-unit multi-family residence that is 95% rehabilitated, spanning 7,860 square feet and situated on an 11,979 square foot lot. Within reach of parks, malls, and churches, this property is ideal for families seeking connection, convenience, and community.

Tenant Move-In Schedule

The first tenants will be moving in as of October 1, and we expect all tenancy to be stabilized by November 1. Some tenants are under application review. When a building is rehabbed, not all tenants will move in at the same time – this is normal and intentional to ensure that each tenant can be catered to by our welcome team. We have allocated a $5,000 marketing budget to rent the remaining units and attract top quality tenants.

Rent payments will start as of October 1, and increase as tenancy increases throughout the month.

Strategic Rehabilitation and Progress

17310 Bentler has been substantially rehabilitated, with new flooring, kitchen cabinets, fresh paint, updated electricals, new plumbing, water heater and tanks, heating, and roof. We have allocated a budget of $40,000 to finish the project. Some minor work remains to be completed inside, although the building is move-in ready as-is. Some tenants are under application review. We have allocated a $5,000 marketing budget to rent the remaining units and attract top quality tenants. The targeted annual return of 9.71% is conservative, and we believe we will achieve a better return as new tenants are selected. This is a solid investment with potential growth in the near future.

Sustained Attractiveness

The extensive rehabilitation ensures that the lasting attractiveness of Bentler will be sustained, making it a desirable residence for tenants and maintaining its appeal for the foreseeable future.

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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