Borrower requested a $2,200,000 loan to refinance a multi-family property in Largo, Florida. The property features 16 units with 3 beds and 1 bath at 976 sq/ft each and 1 unit with 1 bed 1 bath. The borrower plans to continue to lease the property as annual rentals after the renovation and refinance as an exit to the loan.
Collateral:
Type: Fix and Flip
Description:
This is a $305,000 acquisition (land) loan secured by a tear-down single- family property located in Clearwater Beach, Florida. The subject property sits on a 0.16-acre lot (7,083 square feet) in a flood zone. The primary exit strategy for this loan is to build and sell a new construciton property.
- Loan Amount: $305,000
- Date: January 2026
