San Diego, CA

$2,450,000

Multifamily

Commercial Property Value Add

05/15/2017
Transaction by
Wilshire Quinn Capital, Inc.
$2.45MM 1st Trust Deed loan for the purchase and renovation of a 14-unit multifamily property in San Diego, California. The borrower plans on rehabbing and then selling the property in the next 12 months. The property is an 11,900 square foot multi-family apartment building, consisting of 14 units. The unit mix is comprised of 10 three bedroom, one bath units; 3 two bedroom, one bath units; and a one bedroom, one bath unit. The property was appraised last month for $4,100,000 so the loan-to-value is just under 60%. This value add loan was funded in May 2017.