Gnosis
EthereumThe first property RealT ever tokenized: a multi-family rental in Detroit's Warrendale neighborhood. Tokens represent membership interests in the LLC that owns the property; net rent is distributed to holders weekly in stablecoins. A living piece of RWA history that still pays rent every Monday.
The original tokenized rental property: weekly rent on-chain since 2019.
Prism analyst note
Appoline is the proof-of-concept that never stopped working: six-plus years of weekly on-chain rent distributions. Economics are those of a Detroit working-class rental: double-digit gross yield, real exposure to vacancies, repairs and local market drift, and thin secondary liquidity on RealT's markets and Gnosis DEXs. Valuation marks update annually; treat price as appraisal-based, not market-discovered.
Generated from issuer disclosures and reviewed against the sources listed below. Not investment advice.
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This listing is based on the issuer's official disclosures. Prism has not independently confirmed it on-chain.
- What was checked
- This listing is based on the issuer's official disclosures. Prism has not independently confirmed these disclosures on-chain.
- Source
- RealT
- Last verified
- Jan 10, 2026
- Custody
- Property held by LLC; property management by RealT partners
Structure & compliance
- Underlying
- Multi-family rental property, Warrendale, Detroit MI
- Legal structure
Documents & disclosures
Frequently asked
How is rent paid?+
Net rent is distributed weekly in stablecoins to token holders, pro rata.
What happens if a tenant leaves?+
Vacancy reduces distributions until re-let; RealT's property managers handle leasing and maintenance.