An 8-unit beachfront apartment building with strong mix of short-term and mid-term traveling nurse tenants.
LOAN AMOUNT
$1,650,000
Mixed lease terms created underwriting complexity for conventional commercial banks.
Underwrote blended annual cash flow and funded $1,650,000 in 18 business days.
The Outcome
Strong cash flow generates consistent double-digit yield for the ownership group.
Deal Highlights
LOAN AMOUNT
$1,650,000
PURCHASE PRICE
$2,200,000
ANNUAL GROSS RENT
$210,000
DSCR RATIO
1.36
LTV
75%
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