Deal Status

Cancelled

Property Address

4443 – 30th Street West

Bradenton, Florida

34207

Requested Loan Amount

225000

Loan to Value

50

Loan Term

18

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Other

Commercial Property Type

Other

Specialty Property Types

Other

Other Specialty Property Types

Office/Warehouse

Number of Units

3

Current Occupancy

Tenant Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Equity Cash Out

Yes

Equity Cash Out Purpose

Improve Subject Property

Equity Cash Out Details

Borrower owns property free and clear and has approx. $2,876 monthly lease income from several tenants. Per client, funds are to improve the property as follows: a. Exterior/InteriorPaint b. Metal Siding Replacement c. RoofPanelReplacement d. Landscaping and grounds cleaning

Appraisal

Yes

Appraisal Date

03/10/2020

APN Parcel ID

52244.0015/9

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Not Applicable

Exit Strategy Details

Reserves coming from sale of other properties

Comments

The improvements consisted of a freestanding metal warehouse building that contained 9,750 sq. ft. of enclosed building area constructed in 1959. LM, Light Manufacturing, Manatee County Zone “X” as per Flood Panel No. 120153-12081C0304E, dated 3/17/2014. The improvements consisted of a freestanding metal warehouse building that contained 9,750 sq. ft. of enclosed building area constructed in 1959. Rental income used $2,876/monthly from two tenants; another lease for $3,440 is from another entity borrower owns and is not included as income. A single individual also leases space at $950/month but no lease was provided for verification.

First Name

Robb

Last Name

Mercado

Company

Alternative Lending & Investments Group LLC

Role

Mortgage Broker

Location


Florida
USA