Updated Sep 9, 2024
Marcus & Millichap Capital Arranges $12.2M Loan For Multifamily Property In Fremont
42010 Blacow Rd Fremont, CA 94538, USA
$12,245,000
Building Size
—
Asset Type
MultiFamily
Closing
May 5, 2023
About this deal
AI
As part of a refinancing transaction, Marcus & Millichap Capital Corporation (MMCC) arranged a $12.245 million loan for Arbordale Gardens, a multifamily property in Fremont, CA. The property, located at 42010 Blacow Road, offers luxury studio, one- and two-bedroom apartments and is conveniently situated near schools, retail shops, and major transportation routes.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,245,000
- Loan Terms: 10-year fixed interest rate of 5.3% and a 30-year amortization with a 60% LTV
The loan was facilitated by Chad O’Connor from Marcus & Millichap Capital Corporation, who represented the parties involved in the deal. The favorable loan terms include a 10-year fixed interest rate of 5.3% and a 30-year amortization with a 60% loan-to-value ratio.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93