San Diego, CA

$1,825,000

Multifamily

Commercial Property Value Add

03/26/2019
Transaction by
Wilshire Quinn Capital, Inc.
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.