I am looking at purchasing 3 duplexes on a single parcel. I've already tried the County Assessor and the property cannot be broken up due to setback requirements. I don't want a Commercial loan, any ideas how to get a 20 year fixed on this type of property? Any good resources. Price $350,000 from the seller directly, average rent is $730, no capex required, very easy to rent, taxes should run about $8-9K/yr. I already own to performing duplexes, one for 7 years, the other for 1-1/2.
You are over 4 units so unless you get a private lender willing to work with you you're essentially stuck with commercial.
No capeXrequired-very unusual underwriting.
Misread it a 6 plex........ Carry on.