• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

13 Units Multifamily

Another Successful Funded Loan

  • $884,000
  • 5 Year Fixed @4.500%
  • C/O Refinance-64% LTV
  • 13 Units
  • Multifamily Property
  • San Bernardino, CA


This was a Cash out refinance transaction for an investor client who was referred to us from a top real estate brokerage team that we do a lot of business with. . Since the initial introduction we have done many deals for the investor.


The property had previously been very poorly managed. When they bought from the seller a few months back the property was delivered with poor records and there was some deferred maintenance that needed to be addressed. Property sold at a good price but rents were low and very poor historical operating statements provided. Pretty much had to rely on a proforma.


In consulting with the investor we advised that we could structure financing that would offer him a 5 year fixed with a 5 year prepay but if he was to refinance within 12 months or less the loan program would allow us to work off a new appraised value and potentially he could cash out a large part of his initial down payment. His rate at the time of refinance would be the greater of his current rate versus the prevailing rate, but the prepay payment is waived and then resets.