A new loan quote from the lender puts the LTV at 63% or $3.5 million down on a $9.2 million purchase. The loan is interest only for 3 years at 5.69% - which puts the monthly debt service at just $3,000 more than the current assumable Fannie Mae loan payment. The attached package is updated to reflect this and the loan terms are below. We are proud presents the Colonial Gardens Apartments, a spacious apartment in El Cajon, California. The Colonial Gardens Apartments offers several amenities to its residents. The property is secured with controlled access and has a charming courtyard-style community. The property also includes a BBQ area and on-site laundry facilities. The owner has instituted a utility billing system allowing the tenants to pay for electricity, gas, water, sewer, and trash. One of the major advantages of this apartment is that it comes with off-street parking, which is a huge convenience in a busy location. The apartment itself has newer energy-efficient air conditioning, which means that the resident can enjoy a comfortable living space while also keeping their energy bills low. Additionally, the apartment has been recently painted and is in very clean condition.
Listing courtesy of Listing Agent: Craig Stewart (760-809-3626) from Listing Office: Acre Investment Real Estate.
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