San Diego Private Lenders for Commercial Property Value Add Projects

Wilshire Quinn Capital provided a $1,825,000 purchase and rehab loan for a multifamily property in the North Park neighborhood of San Diego. The property has 6 apartment units and a single-family residence, on a 6,971 square-foot lot. In this lending scenario we were approached by a seasoned investor and developer, with an 800 plus credit score, who has an outstanding track record of rehabbing multi-family properties in the San Diego area. We feel extremely confident in the borrower’s ability to execute on the renovation plan and deliver a highly desirable product once completed. The property was appraised for $2,500,000, so the loan-to-value is 73 percent.

$2.45MM 1st Trust Deed loan for the purchase and renovation of a 14-unit multifamily property in San Diego, California. The borrower plans on rehabbing and then selling the property in the next 12 months. The property is an 11,900 square foot multi-family apartment building, consisting of 14 units. The unit mix is comprised of 10 three bedroom, one bath units; 3 two bedroom, one bath units; and a one bedroom, one bath unit. The property was appraised last month for $4,100,000 so the loan-to-value is just under 60%. This value add loan was funded in May 2017.