what would be typical terms for a commercial loan on a 8 plex?
"8 Plex. Each Unit Is 1 Bd, 1ba That Rents For $650 A Month. Wood Floors Throughout. Utilities Are Separately Metered. Owner Furnishes A Washer And Dryer For The Use Of All The Tenants. Gated Parking Lot With 8 Spaces. New Wiring And Upgraded Plumbing Done In 2006. Looks Real Good Structurally. Owner Has Architectural Drawing To Convert Building Into Office Space."
asking price is $420,000
are loans available relatively long term with no balloon?