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4239 Alter Rd, Detroit, MI 48215

View Smart Contracts: Eth xDai

Total Investment: $ 551,104.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    9.87%

    Not including capital appreciation

  • Rent per Token

    $ 4.99 / year

  • Rent Start Date

    February 13, 2023

  • Token Price

    $ 50.56

  • Total Tokens

    10,900

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

    4239 Alter Rd, Detroit, MI 48215

  • Neighborhood

    Fox Creek

  • Construction Year

    1923

  • Stories

    2 Stories

  • Total Units

    12 Units

  • Bedroom/Bath

    12x1 Beds / 12x1.5 Baths

  • Rental Type

    Long-term

  • Rented?

    Fully Rented

  • Rent Subsidy?

    No

Property Financials

  • Gross Rent / year

    $ 119,760.00

  • Gross Rent / month

    $ 9,980.00

  • Monthly Costs

    - $ 5,448.00
    • Property Management (8.00%)
      - $ 798.40
    • RealT Platform (2.00%)
      - $ 199.60
    • Maintenance Expenses
      - $ 1,550.00
    • Property Taxes
      - $ 600.00
    • Insurance
      - $ 300.00
    • Utilities
      - $ 2,000.00

  • Net Rent / month

    $ 4,532.00

  • Net Rent / year

    $ 54,384.00

  • Total Investment

    $ 551,104.00
    • Underlying Asset Price
      $ 440,000.00
    • Operating Expense Reimbursement (10%)
      $ 55,106.67
    • Initial Maintenance Reserve
      $ 19,960.00
    • Initial Renovation Reserve
      $ 35,000.00
    • Administrative Fees
      $ 1,000.00
    • Unrounded Listing Price
      $ 551,066.67
    • Rounding Difference
      $ 37.33

  • Expected Income

    9.87%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    4,356

  • Foundation

    Masonry

  • Exterior Walls

    Brick

  • Roof Type

    Asphalt

  • Parking

    8 Parking spaces

  • Interior Size (sqft)

    8,000

  • Heating

    Forced Air / Gas

  • Cooling

    None

  • Building Class

    C

  • Renovated

    Partial

  • Property Manager

    Mutual Property Management LLC

Blockchain

  • Identifier

    REALTOKEN-S-4239-ALTER-RD-DETROIT-MI

  • Total Tokens

    10900

Gnosis Chain

Ethereum

Test Renovation content!

Offering Details

  • Offering Date

    January 13, 2023

  • Issuer

    RealToken International 4239 Alter Rd Inc

  • Min. Investment Amount

    $50.56

  • Max. Investment Amount

    $551,104.00

  • Amount Raised

    $551,104.00

  • Offering Percent (of Total Tokens)

    100.00%

About the Property

4239 Alter

This new Multi-Family residence is special because we started negotiating for it several years ago! As you can see in the pictures, all the properties across the street are new, and the old property next door will also be replaced by new buildings.

Alter’s neighborhood of Fox Creek sits close to the luxury areas of Grosse Pointe and Grosse Pointe Park, but that’s not all. If you read our strategy in this article, you know that we are analyzing the CIPs to see which neighborhoods will receive funds for improvement and revitalization in the next few years. More than $90 million is expected to be injected into Fox Creek! This should bring improvements in tenancy, rents, and property values over the coming years.

We have budgeted $35,000 to renovate this 12-unit property. We will be improving the units and common areas, and replacing all fire detectors. The roof and windows are already new.

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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