Closed investments
$ 500,000
$ 500,000
Summary
- About this property: The borrower purchased a 16 unit residential apartment complex in 1900-1934 Southwest 7th Place, Ocala, FL for $750,000. The borrower renovated 14 units for $125,000, which are currently rented. The borrower will complete the renovations of the remaining 2 units for $20,000 and refinance the property to payoff the loan.
Rate Detail
- York Mortgage Rate: 8.5%
- Management Fee: 1.0%
- Net Investor Rate: 7.5%
Investment Overview
- Originator: York Funding LLC
- Lien Type: Pledge Agreement
Investment Purpose & Strategy
- Loan Purpose: Construction of 16 Units
- Loan Strategy: Build and Sell
LTV Details
- Market Value: $ 1,000,000
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Description
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