Loan amount
$1,650,000
Loan type
Purchase {Fix&Rent}
After Repair Value
$2,800,000 {PP:$1,500,000}
ARV
59% {ARV}
Property type
Other Commercial
Borrower Details
Credit score
760
Deal experience
4 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Philadelphia
State
Pennsylvania
Loan Details
Purchase price
$1,500,000
Down payment
$300,000
Cost of improvements
$450,000
Estimated property value after repairs
$2,800,000
Additional Loan Information
This is a 7,448 sqft four story mixed used property. The first floor is zoned as commercial, and it will not be modified during this rehab. The above three floors are residential, with 5 bedrooms and 3 bathrooms. For each floor, we are planning to modify the layout to having six bedrooms, each bedroom with one bathroom. No additional sqft will be added to the property. The existing interior facilities will also have rehab such as new flooring, new kitchen, and new paint. The exterior of the building will not be modified.
Status
Created
January 14, 2024 - 12:46am

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