Commercial
Posted 4d agoCommercial office loan in San Diego
$1,100,000
Location
San Diego, CA 92101
Target rate
12.25%
Term
3 yr
Property type
Office
Property & underwriting
- Occupancy
- Non-owner occupied
- Units
- 8
- Lien position
- First lien
- As-is value
- $1,478,000
- LTV (as-is)
- 74.4%
- Purchase price
- $1,324,000
- After-repair value
- $1,795,000
- Loan-to-ARV
- 61.3%
- Rehab budget
- $160,000
- Exit strategy
- Sell after renovation
- Borrower experience
- 6-15 deals completed
- Credit score range
- 600-649
- Borrowing entity
- Individual
- Funding timeline
- 45-60 days
- Additional collateral
- Office at San Diego, CA
Use of funds
Purchase
Deal summary
Bridge to permanent financing on a office in San Diego, CA. Borrower is seeking $1,100,000 at up to 12.25% for 36 months. Refinance into 30-yr DSCR.