A Broward County investor acquired an 8-unit apartment building in Deerfield Beach - $1,450,000 purchase, rents averaging $1,300/month but market was at $1,650+. Classic value-add play.
LOAN AMOUNT
$1,087,500
Needed 75% LTV on a multifamily without lengthy bank underwriting. Their bank wanted 6 months of statements, full rent rolls, T-12, and their personal tax returns - a 90-day process for a deal that had a 30-day deadline.
Adler Capital funded $1,087,500 at 75% LTV in 21 days. Simplified doc underwriting - rent roll, leases, and a soft credit pull. Done.
The Outcome
On turnover, units are being upgraded and re-leased at $1,650. When fully repositioned, estimated monthly gross rent: $13,200. Bridge-to-DSCR refi planned once stabilized.
Deal Highlights
LOAN AMOUNT
$1,087,500
PURCHASE PRICE
$1,450,000
UNITS
8
LTV
75%
MONTHLY GROSS RENT
$10,400
CLOSING TIME
21 Days
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
A high-net-worth investor found a tenant-ready 4/3 in West Boca - $625,000 purchase, existing tenant paying $5,200/month on a renewable lease. Zero work needed, just close and collect.
A 1920s craftsman bungalow in St. Petersburg requiring historical restoration, foundation leveling, and modern master suite addition.
An experienced Tampa investor acquired a 10-unit multifamily at $2,800,000 - 100% occupied but rents were 22% below market due to a decade of deferred maintenance and no unit upgrades.
