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Multi Family Building - $571,000

  • Loan Amount: $571,000
  • Property Type: Multi Family
  • Originator: Shawn Harris
  • Interest Rate: 4.15
  • Location: San Diego, CA

In this transaction San Diego Commercial & Business Financing was able to facilitate the purchase of this newly stabilized Multi-Family property in City Heights.  Property was recently rented up with non-stabilized operating statements.  We were able to use projected revenue to underwrite the transaction, and get the highest LTV and loan amount for our clients. 

LTV:      70%
Term:    5 year fixed term, amortized over 30 years
Rate:     4.15%
Prepay:  Step Down

San Diego Commercial & Business Financing is proud to present the funding of this high quality Multi Family building.  We were able to deliver a well below market rate for this transaction.  We were able to help a residential real estate agent close this commercial purchase transaction. 

The transaction was funded by Sr. Vice President Shawn Harris.

Shawn Harris has been active in the Commercial Real Estate community in San Diego for over ten years. At CTM Financial Services where he was the President he oversaw the funding of both commercial and residential real estate loans. As a branch manager of Stearns Lending, the largest privately held non-depository mortgage bank in California, he independently operated his own Mortgage Bank, catering to again to both the commercial and residential community.

For the past three years Shawn has focused solely upon the needs of his Commercial Real Estate clients and partners and is the founding partner of San Diego Commercial & Business Services.  By leaving the banking world he believe he can better serve his clients by offering a FULL product offering of loan services.

Please see his LinkedIn profile HERE.

Shawn specializes in finding A+ quality loan products for clients and properties that have trouble finding the appropriate loan placing.  He has successfully placed loans across all asset classes, including multi-family properties, office buildings, retail properties, gas stations, mobile home parks, restaurants, bars, self storage facilities, and auto shops.