Skip to content
Multi-Family and Apartment Investing

User Stats

449
Posts
153
Votes
Jerry Kisasonak
  • Residential Real Estate Agent
  • Mc Keesport, PA
153
Votes |
449
Posts

116 Unit Apartment Complex Financing Question

Jerry Kisasonak
  • Residential Real Estate Agent
  • Mc Keesport, PA
Posted Oct 23 2014, 01:29

We are looking at a 116 unit apartment complex. The asking price is $4,950,000. The NOI is $484,000/yr. The seller will carry a 20% second. With 100% financing we should cashflow about $13,500 a month. That is calculated with a loan at 5% with 30 year amortization.

Here's my question: Are there commercial loans that have a 30 year amortization? We are currently doing single family loans with a portfolio lender and we were told that 20 year amortization was their maximum amortization length for commercial loans (they consider any investment property loan a commercial loan). What are the current standard lending guidelines in the multifamily arena? Thanks in advance!

Loading replies...