A historical 6-unit apartment building in Little Havana requiring cosmetic revitalization and electrical updates.
LOAN AMOUNT
$1,350,000
Local regional bank rescinded loan approval 5 days before contractual closing date.
Adler Capital stepped in and funded $1,350,000 in 6 business days, preserving the buyer's $100K earnest deposit.
The Outcome
Buyer executed renovation plan and increased Net Operating Income by 38% in year one.
Deal Highlights
LOAN AMOUNT
$1,350,000
PURCHASE PRICE
$1,750,000
LEVERAGE
77% LTV
MONTHLY RENT
$11,400
CLOSING TIME
6 Days
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