Multi-Unit Refinance in Berkeley, CA

Long-time Rubicon borrower needed funds for Construction and Rehab on a Family-owned Apartment Building. Originally built in 1949 by borrower’s father, this 10 unit Multi-Family Property hadn’t had any major remodeling done. Rubicon funded $2M towards the construction with 1 year term. Loan to Value is 60% on this 3 story, approximately 7,400 square foot building that sits on a 5,150 square foot lot within walking distance of North Berkeley BART Station. Rubicon holds the 1st Deed of Trust.