Loan amount
$536,000
Loan type
As-Is Property Value
$670,000
LTV
80%
{LTV}
Property type
Apartment building
Borrower Details
Credit score
800
Deal experience
1 deal
This loan scenario was submitted by a Broker
Property Details
State
Illinois
Loan Details
Additional Loan Information
Offer accepted on a profitable 6 unit apartment building in beautiful Chicago suburb. Fully rented and meticulously maintained building on residential section of 181st st. Massive owner's unit includes 3 large bedrooms, 2 full baths, private patio, separate basement/lower level storage, and 4 car garage. The remainder of the building consists of large 2 bedroom/1 bath units with oversized balconies and storage units included! The basement also includes coin laundry that will stay in the building. Most units have updated kitchens/bathrooms/carpeting throughout. Purchase price $670K. Putting 20% down. Already in contract. Monthly rental income is $7,300 (market is $8,100). Prefer long-term loan, if possible.
Status
Closed
Created
March 23, 2020 - 5:36pm
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