Private Money Loan for Commercial Building in San Francisco, California

Funded by Rubicon Mortgage Fund, LLC

$1,800,000

Deal Details

Private Loan Type

Purchase

Approx. Funding Date

04/30/2024

Property Type
Commercial Land
Property City

San Francisco

Property State

CA

Loan Term (months)

12

Lien Type

1st Trust Deed

Payment Type

Interest Only

Purchase Price

$3,000,000

Loan-to-Purchase Price

60%

Borrower's Contribution to Purchase

40%

Source of Borrower's Contribution

Cash

Property Neighborhood

Mission District

Location Type

Urban

Property Condition

Fair

Number of Units

1

Building Square Footage

6,400

Deal Summary

Rubicon Mortgage Fund, a direct private money lender, funded a $1,800,000 1st lien position private money loan for the acquisition of a vacant commercial building in the Mission District neighborhood of San Francisco, CA. We funded 60% of the $3,000,000 purchase price, while the Borrower contributed 40% cash at closing. The building was formerly occupied by Bank of America for many years. Situated in a prime location with convenient access and boasting over 30 parking spaces, this 6,400-square-foot property holds immense potential. The vision for this vacant space extends beyond mere revitalization; it is slated to undergo transformation into a vibrant local ethnic grocery store, catering to the diverse community of the area. The seasoned buyer, backed by a track record of success with multiple neighborhood markets, recognizes the opportunity this commercial real estate acquisition presents. Adding this establishment to their portfolio marks a significant expansion and a strategic move to meet the demands of the community. The loan term was set at 12 months. This private money loan was funded in April 2024. 

Funded By

Rubicon Mortgage Fund, LLC

Northern California’s Premier Direct Lender | No Appraisal Required