Mortgage lead for Commercial loan in Toledo, OH, 43605

Loan Request for Commercial loan in Toledo, OH, 43605

Request #3697109 by Lender

Date Posted

9/1/2023 8:05:21 PM

Property at

Toledo, OH, 43605, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$8,980,000

Loan Request

$3,640,000

LTV

40.53 %

Credit Rating

700-719

Loan Purpose

Property Purchase

Purpose

Mobile Home Park rents can be raised $35.00 /month across the board. Current annual NOI is $545,000. Lots of upside by filling the vacant park owned trailers. Also can bring in new mobile homes to fill the empty lots. Can get them financed through 21st Mortgage, a company owned by Warren Buffet. Will take little costs upfront to get them into the mobile home park thus dramatically increasing the value of the mobile home park. There is a great demand for rental housing in this area. Park has a fenced in fence all around the park thus giving security to it's tenants. Can buy the property way under appraised value. Lots of upside to this property. Large playground on the property for children to play.

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Loan Request for Commercial loan in Toledo, OH, 43605