Estimated Closing Date: 7/23/2021
Property Address: Riverside Rd. Bunkerville, NV 89007
APN #1 - 77.02 Gross Acres
APN #2 - 13.95 Gross Acres
APN #3 - 26.05 Gross Acres
APN #4 - 7.71 Gross Acres
APN #5 - 16.00 Gross Acres
APN #6 - 6.0 Gross Acres
APN #7 - 12.0 Gross Acres
APN #8 - 6.0 Gross Acres
APN #9 - .73 Gross Acres
Total - 165.46 Gross Acres
Loan Amount: $550,000.00
Loan Per Acre: $3,333
Approximate Value: $1,300,000.00
Loan to Value: 42% based on purchase price
Loan Term: 12 Months – 3 month interest guarantee
Payments: Interest Only Payments
Property Description: Agricultural (Retired Dairy Farm 1967)
Exit Strategy: Sale of first 4 lots average 2 Acre subdivided lot price $150,000.00
44 Lots = $6,600,000
Use of Funds: The land has been surveyed and is to be split into 44
2-acre lots. Borrower is currently working on partnering with a builder to begin that process soon. There will also be a larger lot sold with buildable land and two fields that have been used to grow hay.
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