600000.00 $ $600k Construction Loan Needed @ 10% Mount Holly

Published date: February 29, 2024
  • Location: Mount Holly, North Carolina, United States

$600k Construction Loan Needed @ 10%


⭕ Construction loan needed for building 3 duplexes (6 units) in gated community. Loan will be in first position secured by the real estate. The 3 lots are improved and shovel-ready, and will be subordinated. Gated community, amenities already in place (pool, dock, boat ramp, privacy wall), city water and sewer. 2 Existing duplexes are occupied and renting for $1000/side ($2,000 per duplex) with annual leases. Looking to build 3 more duplexes, in better locations within the development than the existing units (see site plan in photo), approx 1,000 sq ft per side @ $75 /sq ft plus land cost of $15k per side (total $90k per side, $180k per duplex, $540k for the 3). Normal construction draws as units are being built. Loan duration estimated for 1 year, or lender may continue to own as investment rentals. Contact for further details.


Phone number ✆ +1 919-569-2160


Mount Holly, North Carolina

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