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2911 Sturtevant St, Detroit, MI 48206

View Smart Contracts: Eth Gnosis

Total Investment: $ 1,341,430.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    10.78%

    Not including capital appreciation

  • Income per Token

    $ 5.46 / year
  • Income Start Date

    July 15, 2022
  • Token Price

    $ 50.62
  • Total Tokens

    26,500

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

    2911 Sturtevant St, Detroit, MI 48206
  • Country

    USA
  • Source

    RealT
  • Neighborhood

    Dexter-Linwood
  • Construction Year

    1925
  • Stories

    3 Stories
  • Total Units

    27 Units
  • Bedroom/Bath

    21x1 ; 6x2 Bed / 27x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 259,080.00
  • Gross Rent / month

    $ 21,590.00
  • Monthly Costs

    - $ 9,541.00
    • Property Management (8.00%)
      - $ 1,727.20
    • RealT Platform (2.00%)
      - $ 431.80
    • Maintenance Expenses
      - $ 1,500.00
    • Property Taxes
      - $ 2,334.00
    • Insurance
      - $ 500.00
    • Utilities
      - $ 3,048.00
  • Net Rent / month

    $ 12,049.00
  • Net Rent / year

    $ 144,588.00
  • Total Investment

    $ 1,341,430.00
    • Underlying Asset Price
      $ 1,150,000.00
    • Sourcing Fee (10%)
      $ 134,155.56
    • Initial Maintenance Reserve
      $ 41,900.00
    • Initial Renovation Reserve
      $ 15,000.00
    • Administrative Fees
      $ 500.00
    • Unrounded Listing Price
      $ 1,341,555.56
    • Rounding Difference
      - $ 125.56
  • Expected Income

    10.78%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    9,583
  • Foundation

    Slab
  • Exterior Walls

    Brick
  • Roof Type

    Asphalt
  • Parking

    Street Parking
  • Interior Size (sqft)

    16,770
  • Heating

    Forced Air / Gas
  • Cooling

    None
  • Building Class

    C++/B-
  • Renovated

    Well Maintained
  • Property Manager

    Investors Property Management Detroit LLC

Blockchain

  • Identifier

    REALTOKEN-S-2911-STURTEVANT-ST-DETROIT-MI
  • Total Tokens

    26500

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    June 15, 2022
  • Issuer

    RealToken 2911 Sturtevant St, Detroit, MI 48206, Inc
  • Min. Investment Amount

    $50.62
  • Max. Investment Amount

    $1,341,430.00
  • Amount Raised

    $1,341,430.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

2911 Sturtevant

Built in 1925, 2911 Sturtevant is a multi-family residence composed of 27 fully-rented units. This property is on the same street as our last reinvestment property, 3310-3312 Sturtevant. It also sits close to other tokenized properties such as 2950-2952 Monterey and 2661-2663 Cortland, which allows RealT to continue its concentric circle acquisition strategy and optimize its economies of scale.

This property is close to Hamtramck, where General Motors has decided to invest $2.2 billion to open an electric vehicle assembly plant, creating over 2,200 new jobs. It is also located next to the interesting neighborhood of Highland Park, which hosts a concentration of universities where our tenants can work as cleaners and guards. This property is also close to a common thoroughfare, allowing our tenants to commute easily.

This property needs some renovations, and we have budgeted $15,000 as follows:

  • $8,500 for exterior concrete flatwork and apron
  • $2,850 to refresh unit
  • $2,250 for annual maintenance
  • $775 to install missing weather cap on chimney

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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