Loan amount
$0
Loan type
As-Is Property Value
$1,500,000
LTV
0%
{LTV}
Property type
Apartment building
Borrower Details
Credit score
680
Deal experience
15 deals
This loan scenario was submitted by a Broker
Property Details
State
South Dakota
Loan Details
Additional Loan Information
This is a 33 unit multifamily property consisting of 3 buildings all adjacent next to each other. This property suffered from absentee ownership with no CAPEX or improvements in recent history. The property is blocks from a college, downtown bars/restaurants and major employment centers and in a renovated, rebuilt, historical part of town. We have experienced great demand and rental growth for other properties in the city, even during COVID. I am currently operating this property via a master-lease, with a fixed price option/PA in place. I know this property well and with the right financing, have the ability to produce large upside results. Property located in Aberdeen, SD. 2-3 year loan duration. The value and loan amount are based on an ARV and purchase+rehab funds.
Status
Closed
Created
September 22, 2020 - 3:28pm
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