Deal Highlights
Loan Amount: $1,627,500
Loan Type: Purchase and Renovation
CLTV: 75% plus 100% of the renovation budget
Lien Type: 1st lien
Property Type: Multifamily Property
ABOUT THIS DEAL
SDC CAPITAL recently funded $1,627,500 for the purchase and renovation of a multifamily property located in Santa Ana, California. The loan was structured at 75% loan-to-value, plus 100% of the renovation budget, and secured by a first lien on the property.
At closing, the property was 100% occupied, providing immediate rental income for the borrower. However, the asset was in below-average condition, creating an opportunity for the borrower to implement a value-add strategy through renovations and improvements.
The borrower plans to renovate the existing units and build additional ADUs on the property, increasing the overall rental income and long-term value of the asset. Once renovations are completed and the units are leased at market rates, the borrower intends to refinance the property into long-term financing.
Through the planned improvements and expansion, the property is projected to reach an estimated after-repair value of approximately $2,500,000.
Have a property that needs funding? Email info@sdccap.com or call 424-304-1072 to get started.