A Denver investor targeting the Highlands neighborhood found a fully rented 3/2 - $575,000 purchase, tenant at $3,200/month on a 12-month lease. Property was in excellent condition - no work required.
LOAN AMOUNT
$460,000
Investor had seven existing mortgages and couldn't add another conventional loan. Their income was entirely from the rental portfolio - impossible to document for a bank.
Adler Capital closed $460,000 at 80% LTV in 16 days. DSCR of 1.07. Underwritten 100% on property income.
The Outcome
Closed in 16 days. Tenant renewed. Monthly cash flow after debt service: $540. Property up 9% in value since purchase - equity building nicely.
Deal Highlights
LOAN AMOUNT
$460,000
PURCHASE PRICE
$575,000
MONTHLY RENT
$3,200
DSCR RATIO
1.07
LTV
80%
CLOSING TIME
16 Days
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
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.
A seasoned South Florida investor spotted a dated 3/2 in Coconut Grove - great bones, terrible finishes. Asking: $310,000. Comps for fully renovated homes were hitting $620K-$650K.
An investor targeting the Delray Beach long-term rental market found a clean 3/2 near Atlantic Avenue - $485,000 purchase, tenant already in place at $3,950/month with 8 months remaining on lease.
