San Francisco, CA

$650,000

2-4 Units Residential

Residential Rehab

07/07/2016
Transaction by
Security Financial Services
Private money loan for the purchase of a duplex in the Bernal Heights neighborhood of San Francisco, CA. The purchase price was $1,340,000. The Borrower put down $840,000 in cash via a 1031 exchange. We funded the remaining $500,000 of the acquisition cost and held back $150,000 in funds for the Borrower to complete foundation work to the property. The property was delivered vacant at close of escrow and had significant deferred maintenance. The Borrower plans to complete a major rehab as well as increase the footprint of both units. The current size of the property is approximately 1,750 square feet. SFS provided a 1st trust deed loan at 50% loan-to-value for a 12-month term. The transaction was completed in 15 days, in July 2016.