Ground-Up Construction Loan for 4 Units (SFR, ADU, and Duplex) in South Lake Tahoe, CA

Funded by Lima One Capital

$1,470,000

Deal Details

Private Loan Type

Residential Ground-Up Construction

Approx. Funding Date

10/24/2023

Property Type
2-4 Units Residential
Property City

South Lake Tahoe

Property State

CA

Loan Term (months)

13

Lien Type

1st Mortgage

Payment Type

Interest Only

Property Value

$290,000

Construction Budget

$1,500,000

Completed Value

$2,100,000

Loan-to-Completed Value

70%

Construction Project Scope

Vertical

Number of Units

4

Borrower's Plan

Build and Sell

Exit Strategy

Sale

Deal Highlights

Portfolio loan covering 4 units on two lots
No interest on undrawn construction funds

Deal Summary

Lima One funded a a construction loan for four-unit project in South Lake Tahoe, California. The build, taking place over two lots, includes one single-family rental, one ADU, and one duplex. Lima One funded the construction of all four units in one loan at 70% LTV leverage.

Funded By

Lima One Capital

The Nation's Premier Lender for Real Estate Investors