San Diego, CA
2-4 Units Residential
In October 2020, TaliMar Financial funded a $415,000 1st position Bridge Loan secured on single family home with two Accessory Dwelling Units. The Borrower was seeking a cash out refinance option from their existing hard money purchase loan. Since originally purchasing the property, the Borrower had reconfigured the existing residence to add an second ADU and built a new 3rd ADU in the rear of the property. Also known as an ADU, Accessory Dwelling Units are secondary units that can either be added to an existing structure or as a detached unit and be leased as a long term or short term rental. ADU's regulations were designed to help alleviate the housing issues in many urban markets such as San Diego, Los Angeles, and San Francisco. They have become popular with real estate investors that are seeking to boost the cash flow from their investments properties.