A 5-unit apartment building two blocks from Tampa Bay in St. Petersburg.
LOAN AMOUNT
$1,250,000
5-unit property fell outside residential lending guidelines, requiring commercial debt execution.
Delivered a $1,250,000 small-balance commercial loan with streamlined appraisal.
The Outcome
Smooth execution under corporate entity with interest-only payment option.
Deal Highlights
LOAN AMOUNT
$1,250,000
PURCHASE PRICE
$1,650,000
MONTHLY RENT
$10,800
DSCR RATIO
1.26
LTV
76%
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