Mixed-Use Reno Bridge Loan 603
Type: Mixed-use Property
Target: $300,000
Annual Return: 7.00%
Min-invest Amount: $20,000
Duration: 6-9 Months
Project Complete
CrowdFunz is arranging a bridge loan of $300,000 which will be secured by a commercial property located at 1166-1168 East Jersey Street, Elizabeth, NJ 07201 (the “Property”). Based on the comparable market analysis, the value of the Property is $800,000. The proposed loan will be used for the Borrower’s business expansion and renovation of the subject property to improve rental income.
The minimum investment of this project is $20,000 and the maximum is $300.000. Investors are expecting to receive an estimated annual return rate at 7% (simple interest) within the term. The investment term will be 6-9 months. The borrower will apply for a bank loan after the completion of the renovation to pay off this loan.
The minimum investment of this project is $20,000 and the maximum is $300.000. Investors are expecting to receive an estimated annual return rate at 7% (simple interest) within the term. The investment term will be 6-9 months. The borrower will apply for a bank loan after the completion of the renovation to pay off this loan.
The property is a 7,000 +SF mixed-use property. The two units on the first floor of the property are currently occupied by a deli store and a bakery. These store front units generate a gross annual rental revenue of $60,000.
The second and third floor are two residential units and currently undergoing renovation. The estimated gross annual rental revenue will be $43,200 for both units.
The property is located in the center of downtown Elizabeth, within walking distance to public transportations and shopping facilities.
The second and third floor are two residential units and currently undergoing renovation. The estimated gross annual rental revenue will be $43,200 for both units.
The property is located in the center of downtown Elizabeth, within walking distance to public transportations and shopping facilities.
- LTV is low at 37.5% based on the comparable market analysis of $800,000
- Expected net rental income for the Subject Property is $75,408。
- First mortgage and Full-term interest are recorded and reserved to provide extra security for investors。
- The property is located in central downtown of Elizabeth, NJ; a very active and lucrative real estate market with potential growth.
- Five minutes of walking distance to NJ transit Elizabeth station and 30 minutes’ train trip to NYC Penn Station; less than 30minutes’ drive to midtown Manhattan(16miles).
Elizabeth is a City easily accessible by land, sea, rail, and air, located in one of the largest metropolitan areas in the Nation. It is a great American City that many are proud to call home and many more love to visit. With a population of 124,969, the City of Elizabeth is New Jersey’s fourth largest City. As the Union County Seat, Elizabeth contains most major governmental offices and courts servicing the County.
Last year more than 15 million people visited Elizabeth’s Jersey Gardens Mall, the largest mall on the East Coast. Elizabeth is also home to the nation’s top performing IKEA store and the largest Toys-R-Us Kids World.
Last year more than 15 million people visited Elizabeth’s Jersey Gardens Mall, the largest mall on the East Coast. Elizabeth is also home to the nation’s top performing IKEA store and the largest Toys-R-Us Kids World.
PPM (Only available to accredited investors)
Subscription Agreement (Only available to accredited investors)
Subscription Agreement (Only available to accredited investors)
Operating Agreement (Only available to accredited investors)
Appraisal (Only available to accredited investors)
Appraisal (Only available to accredited investors)