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

24 Units Multifamily

Another Successful Funded Loan

  • $4,394,000
  • 7 Year Fixed @ 6.375%
  • C/O Refinance - 65% LTV
  • 24 Units
  • Multifamily Property
  • Indio, CA


A little over a year ago we had helped a couple of our favorite brokers when they purchased this property, and we were able to provide them 100% financing. Now after over $1 million in capital improvements and over a year in leasing all units to market rent levels, it was time for us to refinance them out into permanent financing.


The main challenge was we needed to be able to take them out of the previous 100% financing which was a 1st trust deed and a second crossed against several other assets.  Therefore, the appraisal was important and we needed a program that underwrote aggressively, finding a loan program that offered a low prepayment penalty period was of high importance on the new loan because everyone was optimistic that interest rates will drop in next few years.


At ALB we pride ourselves in having long relationships with all of the best sources and for this assignment we were able to obtain a 7 yr fixed that was offered at a very competitive rate and with a short term prepayment period.  The appraisal came in at a good value and we were able to pay off the loan in full and still have available to borrowers some cashout funds.  So happy for the Agents/Borrowers they are really great guys and deserve all the best.