Salem New Townhome Subdivision
This entire townhouse development project in Salem was situated on one tax lot, but once the foundations were poured our client and his surveyor completed a subdivision of the land to facilitate individual townhome sales. Once he obtained all of the necessary permits he reached out to us for a construction loan. AIC quickly funded his project with a 23-month term and construction began. The new development has two contiguous buildings as shown in a three-unit and four-unit configuration. All seven units are identical, featuring three bedrooms with two and one-half bathrooms and a total of 1,672 SF per unit. All units have a one-car garage with additional parking. These units are now complete and just listed for sale, we are sure they will sell fast.
Our AIC loan experts would love to partner with you on your next real estate investment project.