$465,000 Multi-family loan, stabilized, solid company, top market
Established real estate investment company in the Cincinnati area looking for funding on a 15 unit multi-family under contract. We know our marketplace well as we have been doing this for 15 years in this area. As this being a smaller deal, our larger financing avenues will not do this.
Property Type Apartments
Property Address 2552 Harrison Ave, Cincinnati, OH 45211 -2541 Gobel Ct, Cincinnati, OH 45211 (package property on one parcel)
Purchase Price $390,000.00
Rehab $75,000.00
As-Is $590,000.00
ARV $789,000.00
Loan Amount $465,000.00
Loan Term 5 or 10 year (30 year amortization)
Loan Purpose Buy and Hold
We have 60 days to close and are in the middle of final due diligence.
Due to buy and hold, we are looking for a sensible fixed term (with possibly interest only for the couple years).
In the sub $1 million range, we have quite a few properties available to us so if you are a solid lender who wants solid business, we could probably make this a win/win for everyone.
Have all financials and information ready to go on our company and the property.
Thank you,
Christian