Mortgage lead for Land loan in South Lake Tahoe, CA, 96150

Loan Request for Land loan in South Lake Tahoe, CA, 96150

Request #3706620 by Lender

Date Posted

10/24/2024 11:14:50 AM

Property at

South Lake Tahoe, CA, 96150, USA Show Map

Borrower at

Property Type

Land

Property Value

$7,750,000

Amount of Existing Loans

$1,500,000

Loan Request

$3,000,000

LTV

38.71 %

Credit Rating

780 or more

Loan Purpose

Refinance and Construction

Purpose

Please consider this financing opportunity in the amount of $3,000,000 secured by a DOT in 1st position on subject property in Tahoe City, CA. Our client wishes to obtain this bridge to construction loan for their currently approved 63 unit multi-family workforce housing development on .76 acres in Tahoe City, CA . >>>>>>>>>>>>>>>>>>>>>>>>>>>>With an estimated annual gross income of $1,851,690 and completed value of $29,625,000 upon stabilization, the recently appraised “as-is” value per the report dated July 15, 2024 is $7,625,000. Founded in 1996 the corporation is one of the most experienced developers throughout the Tahoe Basin and a premier leader with multi-family projects in Lake Tahoe.

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Loan Request for Land loan in South Lake Tahoe, CA, 96150