SALE DATE: 07/30/2021
MARKET: Davis Island, Tampa
ASSET TYPE: Development Site, Double Lot
BUYER/BORROWER: Starkus Development LLC
BROKERS: Kevin Lee & Daven Henry
DEVELOPER: LuCapital Management & Legion Construction
SALE PRICE: $1,600,000
ARV: 3,000,000 ea.
Type: Fix and Lease
Borrower requested a $150,000 loan to purchase a manufactured property in Tampa, Florida. The manufactured home was built in 2017 and features 3 beds and 2 baths at 1,512 sq/ft sitting on a 1.24 acre lot. Borrower intends to refinance the loan.
Type: Refinance
Borrower requested a $120,000 loan to refinance a mobile home park in Tampa, Florida. The property is zoned mixed use MH park, features an office structure at 856 sq/ft and sits on .82 acres. The property has multiple mobile homes currently on the property and is cash flowing from weekly collections. Borrower plans to exit the loan with a refinance.
Type: Refinance
Borrower requested a $420,000 loan to refinance a single-family property in Miami, Florida. The borrower is in the final stages of a $200,000 renovation including a pool. The property features 4 beds and 2 baths at 2,525 sq/ft. Borrower plans to list the property for sale as an exit to the loan.
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