We Lend LLC Loaned $4.7M For North Myrtle Beach Multifamily Acquisition
North Myrtle Beach, South Carolina, United States
$4,687,400
$344/SF
Building Size
13,596 SF
Asset Type
MultiFamily
Closing
Jun 9, 2022
AI
A multifamily property located in North Myrtle Beach has recently undergone a closed transaction. This property spans over 13,596 square feet and consists of 37 units, making it a valuable asset in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,687,400
- Market: North Myrtle Beach
- Square Footage: 13,596
- Units: 37
The loan for this transaction was provided by We Lend LLC, with Ruben Izgelov, Solomon Suleymanov, and Moses Suleymanov representing the lender. The loan amount was $4,687,400, and it was specifically categorized as an acquisition loan.
It is noteworthy to mention that this loan falls under the Fix & Flip program. The leverage towards the purchase was 70%, allowing for a significant financial coverage of the transaction. For any loan inquiries regarding this property, contact Solomon Suleymanov at [email protected].
Players
North Myrtle Beach MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.97%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93