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Borrower looking to purchase this multifamily apartment complex located in Santa Paula, CA. Subject property was appraised for $1,717,000.00 as-is with a CDA confirming the value was acceptable. The property is currently generating a monthly rent of $15,500 which is slightly below the appraiser’s estimate of market rent at $16,000/month. Sponsor on the loan has excellent credit and bank statements reflect sufficient liquidity to meet the reserve requirement for the deal. Total loan amount 58% LTV with 1.82 DSCR.