Financing for a 17 unit - Posted by William

import · March 30, 2006, 10:12am

Posted by William on March 30, 2006 at 13:42:11:

The property is zoned C-2 Commercial. On one side of the property is a mobile home park. The other side has a used car dealership.

My buyer does not have much to put down. I would probably take a down payment with a 2nd mortage, if possible.

Thanks for the quick reply.

import · March 30, 2006, 10:12am

Financing for a 17 unit - Posted by William

Posted by William on March 30, 2006 at 11:12:24:

I have a 17 unit complex that I am selling. It was a roadside motel that has been converted into efficiency apartments. The main building is on one level with 14 units. There is also a triplex on the property. When I purchased it, it was in horrible condition with many of the apartments uninhabitable. All of the units are now livable, and I have a buyer that wants to cash me out. Actually my buyer is my property manager.

It grosses approximately $4400/mo. Five of the units are currently vacant.

Sale Price: $250,000

I am trying to assist my buyer by exploring financing options. Any ideas? Any help?

Thanks,
William

import · March 30, 2006, 5:11pm

Re: Financing for a 17 unit - Posted by bill

Posted by bill on March 30, 2006 at 18:11:06:

just sent you an email

import · March 30, 2006, 10:55am

Re: Financing for a 17 unit - Posted by Patrick S. Lawson

Posted by Patrick S. Lawson on March 30, 2006 at 11:55:41:

How is the property zoned?
How much does your buyer have to put down?