DSCR Rental
Posted 1mo agoDSCR rental refinance, multifamily 5+ in Tucson
$1,400,000
Location
Tucson, AZ 85701
Target rate
8.96%
Term
2 yr
Property type
Multifamily 5+
Property & underwriting
- Occupancy
- Non-owner occupied
- Units
- 8
- Lien position
- First lien
- As-is value
- $2,418,000
- LTV (as-is)
- 57.9%
- Purchase price
- $2,098,000
- After-repair value
- $3,004,000
- Loan-to-ARV
- 46.6%
- Rehab budget
- $368,000
- Exit strategy
- Lease-up then refinance
- Borrower experience
- 15+ deals completed
- Credit score range
- 650-699
- Borrowing entity
- S-Corp
- Funding timeline
- 45-60 days
- Additional collateral
- Multifamily 5+ at Tucson, AZ
Use of funds
Construction draw facility
Deal summary
Refinance existing hard money on a multifamily 5+ in Tucson, AZ. Borrower is seeking $1,400,000 at up to 8.96% for 24 months. Sell at completion.