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GenWealth Capital Commercial Provides $986K Acquisition Loan For 3-Unit Multifamily In Boston, MA

Property Image
FINANCED
$986,000

Massachusetts

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MultiFamily5,632 SF
Financed 06/01/2022
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Property Image
FINANCED

GenWealth Capital Commercial Provides $986K Acquisition Loan For 3-Unit Multifamily In Boston, MA

77 Bowdoin Avenue, Dorchester, Massachusetts 02121, United States

See Similar Deals
MultiFamily5,632 SF
Financed 06/01/2022
the dealplayerscompscontact
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Summary

MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$175
Total Square Footage:5,632 SF
Transaction Type:Loan

The property involved in this closed transaction is a multifamily property located at 77 Bowdoin Ave in Boston, MA. The property consists of 3 units and has a total square footage of 5,632.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $986,000
  • Units: 3
  • Square Footage: 5,632

GenWealth Capital Commercial provided the loan for this acquisition. The borrower was approved for a loan amount of $986,000, representing 85% loan-to-value (LTV) on a straight purchase at a fixed rate for a term of 30 years. The loan approval was based on the borrower's bank statements and leases for the subject property.

Players

GenWealth Capital Commercial
GenWealth Capital Commercial
LENDER

Details

FINANCED
IMAGE: 06/02/3033 ADDRESS: 77 Bowdoin Ave MARKET: Boston, MA ASSET TYPE: Multifamily ~ UNITS: 3 ~ SF: 5,632 LENDER: GenWealth Capital Commercial (@GenWealth_CapCo) LOAN AMOUNT: $986,000 LOAN TYPE: Acquisition LOAN TERMS: Borrower was approved for 85% LTV on a straight purchase; 30-Year Fixed Loan NOTE FROM @GenWealth_CapCo: The client was approved for the purchase of a 3-unit in Boston, MA. With our buy and hold loan, they were approved for 85% LTV on the purchase at a 30-year fixed rate. The subject property was approved using bank statements and leases.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$986,000.00

Monthly NOI$6,573.33
Monthly Debt Service$6,232.19
Change in Cash Flow$0.00
Refinance Proceeds$0.00