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3588 Oakman Blvd, Detroit, MI 48204

View Smart Contracts: Eth Gnosis

Total Investment: $ 727,755.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

Questions/Need Help? Email Us.

Property Highlights

  • Expected Income

    10.00%

    Not including capital appreciation

  • Income per Token

    $ 5.02 / year

  • Income Start Date

    January 1, 2023

  • Token Price

    $ 50.19

  • Total Tokens

    14,500

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

    3588 Oakman Blvd, Detroit, MI 48204

  • Country

    USA

  • Source

    RealT

  • Neighborhood

    Oakman Blvd Community

  • Construction Year

    1945

  • Stories

    2 Stories

  • Total Units

    12 Units

  • Bedroom/Bath

    12x1 Beds / 12x1 Baths

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 119,520.00

  • Gross Rent / month

    $ 9,960.00

  • Monthly Costs

    - $ 3,896.00
    • Property Management (8.00%)
      - $ 796.80
    • RealT Platform (2.00%)
      - $ 199.20
    • Maintenance Expenses
      - $ 950.00
    • Property Taxes
      - $ 1,050.00
    • Insurance
      - $ 300.00
    • Utilities
      - $ 600.00

  • Net Rent / month

    $ 6,064.00

  • Net Rent / year

    $ 72,768.00

  • Total Investment

    $ 727,755.00
    • Underlying Asset Price
      $ 626,000.00
    • Sourcing Fee (10%)
      $ 72,768.89
    • Initial Maintenance Reserve
      $ 19,920.00
    • Initial Renovation Reserve
      $ 8,000.00
    • Administrative Fees
      $ 1,000.00
    • Unrounded Listing Price
      $ 727,688.89
    • Rounding Difference
      $ 66.11

  • Expected Income

    10.00%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    21,344

  • Foundation

    Poured Concrete

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Parking

    14 spaces

  • Interior Size (sqft)

    8,143

  • Heating

    Forced Air

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Partial

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-3588-OAKMAN-BLVD-DETROIT-MI

  • Total Tokens

    14500

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    December 8, 2022

  • Issuer

    RealToken International 3588 Oakman Blvd Inc

  • Min. Investment Amount

    $50.19

  • Max. Investment Amount

    $727,755.00

  • Amount Raised

    $727,755.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

3588 Oakman

We are pleased to offer this new 12-unit multi-family located in the northwestern part of the city.  For those who just joined us, this is one of our “bread-and-butter” properties: it has a great purchase price, low renovations, good tenants, and an attractively structured expected income (10%) to provide stable rents month after month.

3588 Oakman was built in 1945, and as you can see from the pictures, the building is surrounded by a nice large garden. Together with our acquisition of 12405 Santa Rosa, 13245 Monica, 5517-5519 Elmhurst and 3510 Ewald Cir (0.1 miles away!), this property continues our strategy of creating economies of scale close to Highland Park. This neighborhood is known for its concentration of universities where our tenants can work as cleaners, guards, and other laborers. Oakman is also close to a common thoroughfare, allowing our tenants to move around comfortably.

We have budgeted $ 8,000 to refresh the property with some paint touch-up, minor maintenance, and some cleaning. Nothing major is required due to this property’s superb condition!

If you speak French we encourage you to watch this documentary that was broadcast on French television explaining how Detroit is being reborn.

NOTE: if you choose to pay with Gnosis Chain, our partner Request.Finance has changed its interface.  You will have the option to click on “Pay as a Guest” or “Create an Account & Pay”.

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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