Loan amount
$650,000
Loan type
Purchase
{Fix&Rent}
After Repair Value
$4,000,000
{PP:$500,000}
ARV
16%
{ARV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
730
Deal experience
16 deals
This loan scenario was submitted by a Broker
No
Property Details
City
Kinston
State
North Carolina
Loan Details
Purchase price
$500,000
Down payment
$100,000
Cost of improvements
$250,000
Estimated property value after repairs
$4,000,000
Additional Loan Information
56 units, 16 near finished (14 brick buildings) Section 8 affordable housing apartment complex. 572 names on waitlist. Each 900 sq ft unit will rent for $600/mo. Early offers being accepted but auction is Dec 10, 2021. New roofs on each, partial rehab complete. Approximately $4M in ARV.
Status
Open
Created
November 8, 2021 - 7:06pm
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