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Pillar Ln

47883 Shares Left
4.00
(1 review) Write a review
bed 4
bath 2
area 1774 Sqft
year 2024
$2,269,900
Purchase Price i
$1,995
Rent / Mo i
9.5%
Anticipated Yield i
High
Investment Risk i
9.3 / 10
Expert Rating i
4.8 / 5.0
Review i
$1000
About Seller
Customer 1 Customer 2 Customer 3
New customers come to your store increased by +78%
4.9 Expert Rating
31 Total Products
5k+ Trusted Customers
78% Return Customers
Total Revenue
$10,850.10
Visit Store
Offering Details

Vendor transferred his property’s deed to a new LLC and is selling a portion of the LLC on the AskLego Marketplace. 

The property is the only asset owned by the LLC. 

The FOS (Fractional Ownership Share) represent direct ownership in the LLC that owns the property. Vendor will maintain atleast 10% ownership in the LLC indefinitely. 

View proof of Vendor ownership prior to the title transfer and proof of the title transfer. View the LLC Documents here

Common Questions
How Arrived works +

Arrived acquires rental properties into an LLC and sells shares in that LLC to the general public. Arrived then manages the day to day operations including finding tenants and completing repairs. Investors receive cash dividends from rental income each quarter and capture any property value appreciation.

What returns can I expect +

Investing in Arrived rental properties can deliver returns to investors in two different ways:

  • Expected dividends: From the rental income on each property; currently paid out to investors monthly.
  • Appreciation: From the change in property value that will be realized at the end of the investment hold period.
What to expect if my property is still seeking a tenant +

We are currently focused on marketing the rental homes to prospective tenants and will email you when a new lease has been signed. Arrived's strategy for seeking tenants is focused on signing 2 year leases, achieving market rent, and thoroughly vetting applicants. Though it may take a bit more time to lease out the homes, we believe these standards provide our investors the best way to maximize returns over the long term.

Diversification +

With real estate, it can be beneficial to invest in multiple properties and markets to achieve portfolio diversification. Diversifying your portfolio can be a good way to reduce exposure to risk from an individual property, tenant, or market forces.

Investing horizon & liquidity +

Currently investors will need to plan to hold their shares for the full investment period until the property is sold and investors are paid their proportional proceeds from the sale. We anticipate establishing a mechanism to facilitate secondary trading in accordance with the rules and regulations of the U.S. Securities & Exchange Commission (SEC) as an option for liquidity during the investment period, however there can be no guarantee when that will be available. Please submit your email if you would like to be notified of future developments.

Arrived strives to give investors the opportunity to build wealth through real estate. Historically, real estate returns have been maximized when treated as a long-term investment over multiple years. Arrived property offerings typically have a 5 year minimum investment period before a property would be sold.

Disclaimer +

There is currently no public trading market for our Interests, and an active market may not develop or be sustained. There is no guarantee that appropriate regulatory approval to permit such secondary trading will ever be obtained. If an active public trading market for our securities does not develop or is not sustained, it may be difficult or impossible for you to resell your shares at any price before the end of the investment period. Even if a public market does develop, the market price could decline below the amount you paid for your shares, and there may be fees involved. Please refer to our offering circular for more details regarding potential distributions.

+
Pillar Ln
47883 Shares Left
4.00
(1 review) Write a review

About the Property

Renovated & Furnished Single Family Home located in Palm Coast, Florida

Offering Details

  • Calixte Duffaut transferred his property's deed to a new LLC and is selling a portion of the LLC on the Lofty Marketplace. This property is the only asset owned by the LLC.
  • Tokens represent direct ownership in the LLC that owns the property. Calixte will maintain at least 10% ownership in the LLC indefinitely.
  • View proof of Calixte's ownership prior to the title transfer here. View proof of title transfer to the LLC here. View the LLC documents here.

Property Details

  • Fully furnished, spacious 4 bedroom, 2 bathroom split floor plan home with a 2 car Garage.
  • Welcoming entryway leading to a private Den/Office and a 4th Bedroom, which can also function as a media room.
  • Spacious living room/kitchen/Dining combo for entertaining.
  • Kitchen equipped with new appliances: Range, Microwave, Dishwasher, Refrigerator.
  • Sliding glass door leading to the back patio and large yard.
  • 3 spacious bedrooms separate from the owner's suite.
  • Large bath with tub/shower combo.
  • Owner's suite with ensuite bathroom: large walk-in shower, walk-in closet, and vanity sink.
  • Laundry room with Washer/Dryer hookup.
  • Located near public schools, community centers, shopping, and more in Palm Coast.
  • View Operating Reserve balance chart
  • View property transaction data

Property Management and Insurance

  • Managed by the seller, Calixte Duffaut
  • Property Management Agreement
  • Insurance Policy from Olympus Insurance.

Property Leverage

  • This property has an interest-only loan of $346,500 with a balloon payment due on December 1st, 2028. View the loan documents here. If Calixte pays down the loan payments, his equity percentage in the property will increase and the levered rental yield of investors will decrease over time. Investors are not responsible for the loan payments and have the ability to change this structure via a governance vote.
  • Calixte plans to refinance the loan instead of paying it down. This will go to a governance vote amongst all investors.
  • Calixte is responsible for 100% of the loan payments.

Occupancy Status

  • 1 year lease (05/01/2024 - 04/30/2025)
  • $2,800/month
  • $2,800 Security Deposit
  • Lease Agreement
  • The tenant is Calixte's business partner who is sub-leasing the property as an Airbnb. View the Airbnb listing here.
  • If the Airbnb brings in a higher net cash flow than the cash flow brought in by the original lease agreement, investors will receive their share of the additional cash flow.
  • If the Airbnb brings in less than $2,800/month, the rent will not be decreased for investors.
  • Calixte has structured the offering like this so investors can receive a consistent cash flow while the property is tested on Airbnb, to prevent volatility.
  • Investors can propose a vote, via governance, to remove the ability for the property to be sub-leased as an Airbnb, at which point, they would still receive the $2,800/month rent.

Location Data

  • "B" Rating for Zip Code on Niche

Top Features

Brand:
Lennar Corp.
Investment Strategy Hypothetical Returns

Single Family Residential

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Investing with Arrived can generate returns in 2 ways:
  1. Annual cash flow from the rental income on each property. The property intends to pay out excess cash to investors monthly.
  2. Annual appreciation returns from any changes in property value. Any appreciation returns net of disposition costs will be paid out upon the sale of the property.
Anticipated Annual Cash Flow


Annual Rent
$26,340
Operating, Financing, Legal & Management Expenses
$9,584



Cash Flow / Dividend
$16,756



Raise Amount
$398,950

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