12 Unit Apartment building need refi / rehab loan $750k

Member since 2025 · 3 posts · 0 votes

Property address is 62021 Plaza Rd Joshua Tree CA 92252

Property had an as is value on appraisal from 4/2022 of $990k and a renovated value of $1,475,000

Property as is value now is about $1,100,000 and a renovated value of $2,100,000 based on current market rents

Construction renovation budget is approximately $350,000

Looking for a 1 year loan for $750,000 that would be in 1st position at an interest rate of around 9%

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Anish Patel
Banker · Sarasota, FL · Member since 2016 · 28 posts · 3 votes
1y
Hi Dave, Will connect!
0 Reply
Dave Goran
OP
Member since 2025 · 3 posts · 0 votes
1y
Hi Anish,
Do you have someone for this loan. Can send you the appraisal
0 Reply
- Anish Patel
  Banker · Sarasota, FL · Member since 2016 · 28 posts · 3 votes
  1y
  Quote from @Dave Goran:
  
  Hi Anish,
  Do you have someone for this loan. Can send you the appraisal
  
  Sent you PM.
  0 Reply
Erik EstradaBusiness Member
Lender · Member since 2022 · 6k+ posts · 1k+ votes
1y
Might be able to do 65% LTV on the current as is value. The rate won't be at 9% however.
[email protected]818-269-7983
LuxePrivate Investments LLC 570 Reviews
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