Updated Oct 14, 2026
Goodman Capital Provides $31 Million Construction Loan For Multifamily Development In San Diego
3636 4th Avenue
$31,000,000
$544/SF
Building Size
56,910 SF
Asset Type
MultiFamily
Closing
Nov 11, 2025
About this deal
AI
The property asset involved is a multifamily complex located at 3636 4th Avenue in San Diego, CA. The asset encompasses 56,910 square feet and consists of 74 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $31,000,000
- Loan Type: Construction
- Loan Terms: 24 months
- Lender: Goodman Capital - Eric Goodman & Etan Slomovic; SteepRock Capital - Connor Rosenbaum
- Landlord: Built Development
- Broker: Jeff Sause - JLL
The deal features prominent individuals including Eric Goodman and Etan Slomovic from Goodman Capital, along with Connor Rosenbaum from SteepRock Capital. Jeff Sause represents the transaction as the broker affiliated with JLL.
On the Map
$31,000,000
$544/SF
MultiFamily
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Players
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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93