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Marcus & Millichap Capital Corporation Facilitates 15-Year Loan Of $3.53M For Oakland Multifamily

Property Image
FINANCED
$3,530,000

California

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MultiFamily
Financed 05/09/2025
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Property Image
FINANCED

Marcus & Millichap Capital Corporation Facilitates 15-Year Loan Of $3.53M For Oakland Multifamily

301 Lenox Avenue

See Similar Deals
MultiFamily
Financed 05/09/2025
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The asset involved in the transaction is a multifamily property consisting of 32 units located at 301 Lenox Avenue in Oakland, CA. The acquisition financing for this property was arranged for a total loan amount of $3,530,000, which includes a 15-year loan with an interest rate of 5.9% fixed for the first five years, a 30-year amortization period, and a loan-to-value ratio of 60%.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,530,000
  • Address: 301 Lenox Avenue
  • Market: Oakland
  • Units: 32
  • Loan Type: Acquisition
  • Loan Terms: 15-year loan, 5.9% interest for first five years, 30-year amortization, 60% loan-to-value
  • Broker: David Campbell - Marcus & Millichap Capital Corporation

David Campbell from Marcus & Millichap Capital Corporation represented the financing arrangement for the acquisition deal. The loan is designated for a local investor looking to acquire the 32-unit Lenox Lake Apartments.

Players

David Campbell
Marcus & Millichap
David Campbell
4 deals$25.5M volume(650) 391-1798
BROKER

Details

FINANCED
IMAGE: David Campbell DATE: 05/09/2025 ADDRESS: 301 Lenox Avenue MARKET: Oakland ASSET TYPE: Multifamily ~ UNITS: 32 BROKER: David Campbell - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $3,530,000 LOAN TYPE: Acquisition LOAN TERMS: 15-year loan include a 5.9% interest rate fixed for the first five years, with a 30-year amortization period and 60% loan-to-value NOTE: Marcus & Millichap Capital Corporation arranged $3.53M in acquisition financing for the 32-unit Lenox Lake Apartments at 301 Lenox Ave. in Oakland, CA. The 15-year loan for a local investor features a 5.9% fixed interest rate for five years, 30-year amortization, and 60% LTV. #

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,530,000.00

Monthly NOI$23,533.33
Monthly Debt Service$22,312.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00