Redevelopment in Little Havanna
Little Havana, Miami, FL, USA
Property Type
Mixed Use
Length
24 months > Term
Appraised Value
$2,500,000 Appraised Value /
LTV
56%
About this Property
The property is located in the great area of Little Havanna. I plan to purchase the two parcels (in escrow) and redevelop them into a mix-used project offering both street retail, office, and multifamily housing. The property is currently occupied by a retail store, a bar, an apartment on the second floor, and a very large parking lot.
Listing Details
- Term: 24 months
- Appraised Value: $2,500,000
- LTV: 56%
- Status: occupied
- Property Type: Mixed Use
- Purchase Price?: $2,200,000
- Listing Type: Commercial
- ARV: $15,000,000
- Current NOI: $154,000
- Pro Forma NOI: n/a
- Building Size: 6,000 sqft
- Land Area: 28,000 sqft
- Occupancy: 100%
- Experience: 1-4 Deals
- Number of Units: 3
- Date Purchased: Feb. 2020
Financials
- Loan Amount: $1,250,000.00
- Estimated Net Worth: $12,000,000
- Estimated Income: $450,000
Client Information
- Has the client used private money in the past?: Yes
- Has the client had any banckruptcy in the last 5 years?: No
- Client Background
- I need the Hard Money for the purchase because I am running out of time with traditional financing. Once I get the building plans approved I will obtain a construction loan and pay off the existing debt.
Details
Loan Purpose
- Purchase
Role
- Investor
Listed by shah
- Profile Status
- Verified
