5-Unit Multifamily – Refinance/Cash Out
Sold

5-Unit Multifamily – Refinance/Cash Out

Hayward, CA

$1,100,000

Hayward, CA

Funding Purpose

Tauro Capital Advisors, Inc was exclusively engaged to place a loan for the cash-out refinance of a property that was willed to the sponsor when his parents passed.

Property Description

The property is a 5-unit multifamily property located in Hayward, CA. It consists of one 4 unit building and one standalone cottage. Currently 100% leased.

Sponsors

The sponsor is a real estate investor with 10 years of experience. His portfolio consists of SFR, multifamily, and commercial units across three states.

Challenges

  • Sponsor inherited the property from deceased parents, and Court and title delayed inheritance and title transfer.
  • Building in need of renovations, so looking for maximum loan to value.

Solutions

  • Funding secured with a major bank that was able to give the sponsor maximum proceeds for the renovations.

Funding

  • Loan to Value: 70%
  • Interest Rate: 3.25% 
  • Amortization: 30 years
  • Term: 10 years
  • Recourse: Non-recourse 
  • Prepayment: Step-down


Deryl Deese

Deryl Deese

TITLE

Senior Director | Capital Advisor

Follow Us On Instagram