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