Hard Money Loan In Reading PA For Property Purchase
Address: Reading, PA
Borrower Profile: Experienced Investor
Work Description: Purchase Of Mixed Use Building
Purchase Price: $450,000
Renovation Budget: $0
Loan Amount: $250,000
Cash Available for Purchase: $250,000
Cash Available for Renovation: $0
Loan Structure: 12 Months Interest Only
Loan Purpose: Property Purchase Only
ARV: $490,000 (as-is)
Situation:
Asset Based Lending recently funded a hard money purchase only loan for a mixed use property in Reading, Pennsylvania. The property was found through an online commercial property website, and consists of 2750 square feet of commercial/retail space with 2 floors of apartments on top (4 apartments total). The property is in good condition, and the commercial space is already rented with a long term lease.
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