Loan Request for Residential loan in Vega Baja, PR, 00693

2/18/2026 8:04:40 AM

Vega Baja, PR, 00693, USA Show Map Hide Map

Residential

$260,000

$150,000

57.69 %

620-629

Purchase and Construction

HARD MONEY LOAN PITCH – VEGA BAJA 4-PLEX
1. Loan Request & Purpose
I am seeking a short-term bridge loan of approximately $165,000 to acquire and renovate a four-unit multifamily property located in Bo. Almirante Sur, Vega Baja, Puerto Rico.
The property is being acquired at $114,995 cash and requires light-to-moderate renovations to bring all units to rentable condition. The loan will be used for acquisition, renovation, and carrying costs.
The business plan is to complete renovations within 60–90 days, stabilize rental income, and refinance into a long-term DSCR rental loan within 6–9 months, at which point the hard money loan will be paid off in full.
2. Property Description & Strengths
This is a 4-unit multifamily investment property with separate utility meters (AAA water and LUMA electric), ideal for individual tenant billing and maximizing cash flow.
Unit Mix:
Unit 1: 1 bedroom / 1 bathroom + balcony + garage
Unit 2: 1 bedroom / 1 bathroom
Unit 3: 2 bedrooms + kitchen + balcony
Unit 4: 2 bedrooms / 1 bathroom + balcony
Lot Size: 436 square meters
Location:
Bo. Almirante Sur, Vega Baja – near:
Road #160 and Highway #2
Walmart and major retail
Parque Angel Rodriguez
Local churches and employment centers
This is a high-demand rental area with consistent need for workforce housing.
3. Renovation Plan
The property requires cosmetic upgrades and minor functional improvements:
Scope of Work:
Interior paint and flooring
Kitchen cabinet and countertop refresh
Bathroom upgrades
Minor electrical and plumbing updates
Exterior clean-up and curb appeal improvements
Estimated Rehab Budget: $35,000–$40,000
Timeline: 60–90 days to completion
The goal is to quickly bring all units to market-ready condition and begin leasing immediately.
4. Rental & Value Projections
Projected Monthly Rents (conservative):
1BR units: $575–$650
2BR units: $700–$850
👉 Projected Gross Rent: $2,600 – $2,900/month
Annual Gross Income: ~$32,000+
After stabilization, the property is projected to appraise between:
👉 $240,000 – $260,000 (based on income approach and comps)
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