Overview
By purchasing tokens of this property, investors can diversify their risk due to potential rental vacancies, as 20 units make for a consistent expected rental income – in this case, a solid 11.04%. Lenore has a strong tenant demand, with 3 churches next door (Harvest Christian Church, Redford Church, Westside Bible Church) and a park that starts at Oak Grove (less than a mile from the property) and goes down to Eliza Howell Park. The property is also positioned with easy access to shopping, dining, and commuter routes, which increases quality of life for our tenants. Lenore is also located near the Redford district, chosen by Ford to re-establish a factory. The property needs a little bit of renovation, and we have budgeted $10,000 as follows:
$8,000: Parking Lot
$1,235: Refresh units B16, B18,117, 211
$765: Repair fascia metal trim at D Side Entry
Highlights
Expected Income: 11.04% not including capital appreciation
Rent Start Date: 2022-06-15
Rent per Token: $5.55 / year
Token Price: $50.26
Total Tokens: 19,000
Property Type: Multi Family
Neighborhood: Five Points
Construction Year: 1963
Stories: 2 Stories
Total Units: 20 Units
Bedroom/Bath: 20x1 Bed / 20x1 Bath
Rental Type: Long-term
Rented? Fully Rented
Section 8? No
