8 Unit Apartment Private Lending Opportunity 64% LTV $90k Loan
Borrower seeks $100,000.00 for the purchase of an 8 unit apartment that is fully updated and rented. Appraised @ $140,000.00, for a 71% LTV.
All 8 units are rented, and freshly painted with new flooring, vanities, steel exterior doors, and new steel ribbed roof. New stackable washer/dryers in laundry room. Indoor mailboxes on site, and the transformer on the grounds is for the apartment only. Garbage pickup is on site. It needs nothing.
One caretaker/manager apartment onsite. Current rents $450.00, and will increase to $500.00 on renewal.
Full Appraisal available upon request.
Buyer owns a number of other mobile home parks & self-storage facilities and islooking for the private lender to help with this one for a 10-30 year loan. LTV & rates are negotiable, we just need a commitment by next week if possible.
Interested? Please PM me for more info. Click here to download the cut sheet on this project.
