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

48 Units Multifamily

Another Successful Funded Loan

  • $2,640,000
  • 10 Year Fixed @ 4.790%
  • Purchase-79% LTV
  • 48 Units
  • Multifamily Property
  • Adelanto, CA

ASSIGNMENT:

One of our Valued commercial real estate brokers referred over their buyer to us. He was in a 1031 exchange selling a SFR and a small 6 unit building and rolling the funds into this 48 unit building.

CHALLENGE:

The client was taking a big move up into a building in a non core marrket. The  subject property was a little weathered and needed some TLC, but was cash flowing well. Borrower required high leverage on this deal.

SOLUTION:

We were able to qualify the applicant under a Freddie Mac SBLprogram and almost at 80% LTV with a solid 5 year fixed with 1st year interest only. Because of the high leverage this left the cleint with some extra funds to apply to another transaction.