Apartments

Saratoga Capital, Inc. is a multi-family owner and operator so we know this property type! Bring us your loan scenario and we’ll give you a quick response. Our in-house funding and property type knowledge make us the ideal private money lender for apartment multi-family.

The terms of these loans ranged from 1 – 3 years. Payments were interest-only, and the rate was fixed for the term. Interest rates ranged from 7.75% to 8.50%.

Please us at (408)286-3696 for current rates and fees as these examples reflect rates at the time loan was made.

Past Private Money Apartment Loans

Santa Clara, CA | $250,000 – 2nd TD Loan
Purpose:
Replace roofs on all buildings
Number of Units: 80
First Loan: $4,768,000
Terms: Interest only @8.75% for 3 years.
3 Points.
Comments: Property being “rehabed” for future sale.

Placerville, CA | $1,120,000 – 1st TD Loan
Purpose:
Refinance first & second loans
Number of Units: 50
Terms: Interest only @8.75% for 4 years.
3 Points.
Comments: Project was under a HUD 236 program of subsidized financing and rents with capped income to investors. Our loan paid off the HUD loan and allowed owners to raise rents to market levels.

Chatsworth, CA | $1,780,000 – 2nd TD Loan
Purpose: Purchase and rehab
Number of Units:
96
First Loan: $3,500,000
Terms: Interest only @8.75% for 4 years.
3 Points.
Comments: Institutional lender would lend only on current rents. We gave additional funds to rehab the property and rerent at higher rates. Refinance when stabilized at higher income.

San Jose, CA | $1,700,000 – 2nd TD Loan
Purpose: Purchase
Number of Units: 84
First Loan: $2,300,000
Terms: Interest only @8.75% for 3 years.
3 Points.
Comments: $500,000 reserve for rehab. Project run down and rents below market. Owners to rehab and bring project to market rents, then refinance with new first. Loan to a LLC.

Bay Area, CA | $800,000 – 2nd TD Loan
Purpose: Buy out partner
Number of Units: 210 – four separate projects
Terms: Interest only @8.75% for 5 years.
3 Points.
Comments: Our loan emcumbered four apartment projects in Campbell, Mountain View, Sunnyvale and E. Palo Alto. Total of first loans (4) was inexcess of $9,000,000.

N. Hollywood, CA | $1,550,000 – 1st TD Loan
Purpose: Purchase
Number of Units: 29
Terms: Interest only @9.75% for 1 years.
3 Points.
Comments: 1031 exchange needed immediate close. Institutional lender could not close in time. We did. Loan repaid with institutional loan 45 days later.

Bay Area, CA | $356,000 – 2nd TD Loan
Purpose: Cash out to purchase more units
Number of Units: 70
First Loan: $3,643,640
Terms: Interest only @9.00% for 5 years.
3 Points.
Comments: Property being “rehabed” for future sale.

Sonoma, CA | $356,000 – 2nd TD Loan
Purpose: Cash out to purchase more units.
Number of Units: 70
First Loan: $3,643,640
Terms: Interest only @9.00% for 5 years.
3 Points.
Comments: Property being “rehabed” for future sale.

Sherman Oaks, CA | $500,000 – 2nd TD Loan
Purpose: Buy out partner
Number of Units: 22 – Three story building with underground parking.
First Loan: $925,000
Terms: Interest only @9.00% for 5 years.
3 Points.
Comments: Property appraised for $2,000,000. Loan was made to buy out partner’s interest.

Redding, CA | $1,900,000 – 1st TD Loan
Purpose: Refinance of HUD loan
Number of Units: 90
Terms: Interest only @8.50% for 4 years.
Comments: Property came off HUD 236 program with below market rents, with capped income to investors. Rents to be raised to market levels and then refinanced.