Pref Equity Partner needed 4M -7.8M

Wilmington, DE (New Castle County)

Asking Price: On Request

Real Estate Details

Listed on Oct 2, 2024

Seasoned investors looking for Preferred Equity partner for short term investment in 68
units, 1-4 SFR investment portfolio in the Northeast area.
Property Address: Philadelphia (7), Wilmington (39), Baltimore (13), Akron (9).
Description:
Asset type: 1-4 SFR
Number of Units: 68
Financials:
Purchase Date: June 2021
Total First Position lender lien for all props: $7.8M
Current Occupancy: 78%
Current Monthly rent: $52K/month
Stabilized Appraised Value (ARV): $9M (est )
ARV LTV - 87%
Balance in renovations needed- $100K
Loan Amount Request: 11% of new market value = ($1M)
Term Requested: 10 Months @ 10% annual interest and 10% equity.
Use of Funds – payoff as rates fall in 2025 with cash out refinancing.
Sponsor info:
FICO score range – 720+
Liquidity – $100K+
Experience – Massive! 30 years+

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Financials (USD)

Net Operating Income (Annual) Not Disclosed

Asking Price Not Disclosed

Cap Rate Available On Request

Deal Terms

Broker Co-Op? Available On Request

Seller Financing Available? Available On Request

Seller Willing To Lease? Available On Request

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