Multifamily
Posted 14d agoMultifamily value-add, 24 units
$3,400,000
Location
Kansas City, MO
Target rate
9.25%
Term
3 yr
Property type
Multifamily (5+)
Property & underwriting
- Occupancy
- Non-owner occupied (investment)
- Lien position
- 1st lien
- As-is value
- $5,230,769
- LTV (as-is)
- 65.0%
- Exit strategy
- Refinance to conventional
- Borrower experience
- 4-10 deals completed
- Borrowing entity
- LLC
- Funding timeline
- 2-4 weeks
- Additional collateral
- 24-unit apartment building
Use of funds
Value-add acquisition
Deal summary
Below-market rents with a clear renovation path. Sponsor owns 180 units in the metro.