Oakland, CA

$250,000

Multifamily

2nd Mortgage

09/13/2018
Transaction by
Stonecrest Financial
The borrower needed capital for his business. He has owned this commercial, multi-family property since 1993 and has a small loan against it. Stonecrest provided him with a $250K line of credit in 2nd position with a combined loan-to-value of 45%. The property is located in Oakland California. It is a 3,579 sq ft multi-family home situated on a 5,310 sq ft lot. The property was built in 1965. It has 5 units and each unit has 2 bedrooms and 1 bathroom. It is in a neighborhood with a mixture of single family and multifamily properties.