Boutique 8-unit apartment community in trendy Seminole Heights with updated kitchens.
LOAN AMOUNT
$1,800,000
Borrower was an LLC entity with out-of-state partners.
Closed $1,800,000 commercial DSCR loan with non-recourse options and entity vesting.
The Outcome
Closed smoothly without personal debt-to-income underwriting.
Deal Highlights
LOAN AMOUNT
$1,800,000
PURCHASE PRICE
$2,400,000
MONTHLY RENT
$15,200
DSCR RATIO
1.28
LTV
75%
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