2023FL508C-2R
Note ID
2,449 SqFt
Size
5
Bedrooms
4.5
Bathrooms
Description
This is a second position loan on renovated property in PCB, FL that will be sold as a residence or a short-term rental to an investor. The note has a a personal guarantee from a sponsor with significant wealth and a profitable, thriving real estate business and is held in an investment vehicle.
Address
Address: 508 Dement Cir APT C
- Country: United States
- Province / State: Florida
- Postal code / ZIP: 32407
- Note ID 2023FL508C-2R
- Price Note Size: $61,250
- Property Type Townhouse
- Property status ---Sold Out---
- Bedrooms 5
- Bathrooms 4.5
- Size 2,449 SqFt
- Land area 2,394 SqFt
- Label Subordinated Note
- Garages 1
- Note Type Fix & Flip
- Whole Note - Annual Yield (%) 13.0%
- Participation - Annual Yield (%) 13.0%
- Loan Maturity Date (MM/DD/YY) 10/13/24
- Property Current Value ($) 875,000.00
- Loan to Current Value (%) 82%
Sponsor & Guarantor
Similar Notes
This property is awaiting permits to build a new, luxury duplex. The loan is a bridge on the current duplex which is being rented month-to-month until the permits are finalized in Q4 of 2023. This is a subordinated note.
1,882 SqFt
4
2
Whole Note Yield: N/A
Partial Note Yield: 16.0%