FHA-insured · 221(d)(4) new construction or substantial rehab
Sutton Place
523 NE 23rd Cir, Ocala, FL 32670 · 130 units
Sutton Place carries a $2.8 million FHA-insured mortgage at a 5.6% note rate, endorsed by HUD on September 2, 2010 and maturing in December 2051. HUD's file put the amortized balance at $2,250,765 as of September 30, 2026, with 25 years 3 months left on the term.
20% repaid
Insured during construction: initial endorsement September 2010, final endorsement October 2012 once the work was done. HUD's file does not show whether rent or income restrictions apply.
Would a 223(a)(7) refinance lower the payment?
This loan's 5.6% rate is above the 5.54% median on HUD apartment loans endorsed in the 12 months before September 30, 2026. At that median, on the same balance and remaining term, principal and interest would run about $14,000 a month instead of about $14,000: roughly $1,000 a year less, before mortgage insurance, closing costs and any prepayment premium in the note.
A 223(a)(7) is HUD's streamlined refinance of a loan it already insures. No cash out, and the new loan can't exceed this loan's original amount. Run this property through the 223(a)(7) estimator with your own rate, term and costs.
Own this property?
Send it to the commercial mortgage team at Janover Capital LLC. Say whether you are assuming, refinancing or adding a supplemental loan, and we will give you a preliminary read on what a HUD lender is likely to need. Any terms come from the lender.
Janover Capital LLC is not HUD, FHA or the lender on this loan, and is not affiliated with or endorsed by either. The loan figures on this page come from HUD's public file and are not an offer of credit.
Other HUD-insured loans in Ocala
- Trinity Villas 162 units · 2.85% · matures 2041
- Parkside Gardens Apartments 144 units · 4.9% · matures 2058
- The Grove at Ocala 329 units · 4.92% · matures 2061
- Harveys Fellowship Home 50 units · 5.5% · matures 2040
Source: HUD, Insured Multifamily Mortgages, active file, current as of September 30, 2026. Street address from HUD's Insured Multifamily Properties map layer. Rates and balances are as HUD reports them; if HUD's file is wrong, this page is too. How we use the data.