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9171 Whittier Ave, Detroit, MI 48224

View Smart Contracts: Eth xDai

Total Investment: $ 297,000.00

Reg S: Non-U.S. Only

This property is not available for purchase in your area.

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Property Highlights

  • Expected Income

    11.70%

    Not including capital appreciation

  • Rent per Token

    $ 5.79 / year
  • Rent Start Date

    October 18, 2021
  • Token Price

    $ 49.50
  • Total Tokens

    6,000

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

    9171 Whittier Ave, Detroit, MI 48224
  • Neighborhood

    Outer Drive / Hayes
  • Construction Year

    1957
  • Total Units

    7 Units
  • Bedroom/Bath

    7x1.5 Bed / 7x1 Bath
  • Rental Type

    Long-term
  • Rented?

    Fully Rented
  • Section 8?

    No

Property Financials

  • Gross Rent / year

    $ 43,800.00
  • Gross Rent / month

    $ 3,650.00
  • Monthly Costs

    - $ 755.00
    • Property Management (8.00%)
      - $ 292.00
    • RealT Platform (2.00%)
      - $ 73.00
    • Maintenance Expenses
      - $ 70.00
    • Property Taxes
      - $ 200.00
    • Insurance
      - $ 120.00
    • Utilities
      Tenant-paid
  • Net Rent / month

    $ 2,895.00
  • Net Rent / year

    $ 34,740.00
  • Total Investment

    $ 297,000.00
    • Underlying Asset Price
      $ 255,000.00
    • Operating Expense Reimbursement (10%)
      $ 29,700.00
    • Initial Maintenance Reserve
      $ 7,300.00
    • Initial Renovation Reserve
      $ 5,000.00
    • Unrounded Listing Price
      $ 297,000.00
  • Expected Income

    11.70%

    Not including capital appreciation

Property Details

  • Lot Size (sqft)

    6,098
  • Parking

    8 Spaces (on the back)
  • Interior Size (sqft)

    2,764

Test Renovation content!

Offering Details

  • Offering Date

    October 4, 2021
  • Issuer

    RealToken LLC - Series #159 - 9171 Whittier
  • Min. Investment Amount

    $49.50
  • Max. Investment Amount

    $297,000.00
  • Amount Raised

    $297,000.00
  • Offering Percent (of Total Tokens)

    100.00%

About the Property

This is RealT’s second property offering on Whittier Ave in Michigan. This seven-unit apartment building sits in a hardworking neighborhood with easy access to major highways, shopping and restaurants. Each unit enjoys one-and-a-half bedrooms and one bathroom, recently renovated to include new windows, plumbing, floors, paint, air conditioning, and appliances! The roof also retains a minimum life expectancy of 5-7 years.

This location is a short distance from a Community Garden, Winans Performing Arts Academy and other businesses making these apartments easy turn-key maintenance for a strong working neighborhood as well as easy access to public transportation.

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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