Kevin Elliott Of Marcus & Millichap Capital Corporation Arranges $8.83M Loan For Chula Vista Multifamily

A multifamily property consisting of 79 units is located at 710 East Street in the Chula Vista market. The property, formerly a Best Western, has been renovated into studio units and includes amenities such as a pool, fitness center, and onsite laundry. The financing arrangement involves a total loan amount of $8,825,000 with a 30-year term and a 60% loan-to-value structure, indicating strong renter demand in the area.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $8,825,000
• Loan Terms: 30-year
• Units: 79
• Address: 710 East Street
• Market: Chula Vista
• Broker: Kevin Elliott - Marcus & Millichap Capital Corporation

Kevin Elliott from Marcus & Millichap Capital Corporation facilitated the $8.83 million financing for the property on behalf of a private client. The deal reflects a strategic financial arrangement catering to the multifamily sector's increasing demand in Chula Vista.