Eastbank Apartments
- Projected IRR of 25.86%, 2.66 multiple to investor
- Closed 3/2021
- 48 units built in 1970
- Purchase price: $1,833,000
- $1,200,000 proposed capital improvement program
- 2 year I/O, fixed rate bridge debt year 1
- Refinance with Freddie Mac 5-year fixed debt