Marcus & Millichap Capital Corporation Arranges $4.6M Refinance For 38-Unit Multifamily In San Diego
1479 Elder Avenue
$4,600,000
Building Size
—
Asset Type
MultiFamily
Closing
May 8, 2025
AI
The property asset involved in the transaction is Hillside Villas, a multifamily property consisting of 38 units located at 1479 Elder Avenue in the San Diego market. The refinance loan amount for this property is $4,600,000, arranged as a 30-year term with a 5.58% interest rate and a loan-to-value ratio of 50%. The structure includes 3 years of interest-only payments, followed by a 27-year amortization period.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,600,000
- Loan Type: Refinance
- Loan Terms: 30-year loan with 3 years interest only, 5.58% interest rate, 27-year amortization period, 50% loan-to-value
- Address: 1479 Elder Avenue
- Market: San Diego
- Units: 38
Chad O’Connor from Marcus & Millichap Capital Corporation represented the financing side of the deal, facilitating the refinancing process for the multifamily property in San Diego.
San Diego MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.45%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93