SOLD OUT – This Real Estate Token is only available on RealTs secondary markets
We are pleased to offer this new multi-family near our other recent Chicago offering of 618 E 79th. Built in 1926, this new property contains 18 fully-rented units to mitigate the risk of vacancy, and its location helps you diversify your portfolio outside our Detroit holdings.
The last owner purchased this property for $400,000 at the beginning of 2021. He invested $320,000 to renovate it and meet the expectations of our targeted tenants. He renovated all the windows, the foundation, the roof, and the electrical system; replaced the boilers; installed a water heater per unit; and installed a surveillance camera system.
The previous owner stabilized the property with a solid yield of 7.8%. We are planning to increase this expected income gradually with each tenant rotation.
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