Loan amount
$400,000
Loan type
Purchase
{Rent&Hold}
As-Is Property Value
$330,000
{PP:$1,000,000}
LTV
121%
{LTV}
Property type
Multi-Family 5+ Units
Borrower Details
Credit score
600
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Cleveland
State
Ohio
Loan Details
Purchase price
$1,000,000
Down payment
$600,000
Additional Loan Information
The Cleveland mixed-use portfolio includes a 14-unit property on St. Clair Avenue (7 apartments, 3 storefronts, 4-car garage) and a 4-unit multifamily on East 45th Street. Current occupancy is ~30–40%, generating ~$4,455/mo, but market rents support ~$17,480/mo once stabilized.
The seller has agreed to defer payments for 90 days or until 80% occupancy is reached, providing runway to lease-up. At stabilization, projected NOI of $82k–$94k supports valuations of $827k–$1.18M, consistent with the $900k–$1M purchase price under negotiation.
Financing options include seller financing or an equity-carry JV with bridge debt and rolled seller equity. Risks from vacancy and capex are mitigated by deferred payments, recent roof replacements, and conservative underwriting. The sponsor, Haeylo LLC, is a firm backed by an experienced mentor with 341 units and ties to a 7,000-unit portfolio.
The seller has agreed to defer payments for 90 days or until 80% occupancy is reached, providing runway to lease-up. At stabilization, projected NOI of $82k–$94k supports valuations of $827k–$1.18M, consistent with the $900k–$1M purchase price under negotiation.
Financing options include seller financing or an equity-carry JV with bridge debt and rolled seller equity. Risks from vacancy and capex are mitigated by deferred payments, recent roof replacements, and conservative underwriting. The sponsor, Haeylo LLC, is a firm backed by an experienced mentor with 341 units and ties to a 7,000-unit portfolio.
Status
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Created
August 26, 2025 - 2:44pm
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