Private Bridge Loan for 6-Unit Multifamily Rehab Project in Oakland, California

Funded by Security Financial Services

$1,200,000

Deal Details

Private Loan Type

Commercial Property Value Add

Approx. Funding Date

12/15/2017

Property Type
Multifamily
Property City

Oakland

Property State

CA

Loan Term (months)

12

Lien Type

1st Mortgage

Payment Type

Interest Only

Purchase Price

$900,000

Loan-to-Value

75%

Renovation Budget

$300,000

Number of Units

6

Deal Summary

Security Financial Services, a direct private lending firm based in San Francisco, funded a $1,200,000 1st lien position private bridge loan for a 6-unit multifamily property in Oakland, CA. The purchase price was $900,000 and the rehab budget was $300,000.  Our loan-to-cost was 75%. The loan term was set at 12 months. This private money loan was funded in December 2017. 

Funded By

Security Financial Services

Direct Lender for Northern California Property Investors | Established 1943