Seeking Financing For 5 Unit Stabilized Apartment Building 14%CAP

Looking for a 1st lien lender for this newly updated and stable 5 unit Apartment building in Deer River, MN

Borrower has a Mobile Home Park across the street and is able to get this for a great price. Seller will carry back a 2nd lien and if this is a problem, we will bring in an equity/gap funder.

2019 Numbers:

• Income: $25,404.32
• Expenses: $9,107.72
• Net Income: $16,296.60

Utilities will be billed back and rents raised $30.00, making this near 18% CAP

All apartments remodeled, newer roof, appliances, and furnace. On site parking.

PM Me for more info