MMCC, a division of Marcus & Millichap, recently facilitated the refinancing of a 14-unit multifamily property located at 1924 Harding Ave in National City. Chad O’Connor, executive managing director at MMCC’s San Diego office, secured the financing from a national bank on behalf of a private client.
The five-year loan has an attractive fixed interest rate of 5.61% and features a long-term amortization schedule with loan-to-value ratio set at 60%.
The newly built property offers modern amenities such as in-unit laundry and secure parking for its residents. Its prime location near the 24th Street tram station provides convenient access to downtown San Diego and UCSD campus.
This successful refinance deal showcases MMCC’s expertise in securing competitive financing options for their clients’ real estate investments.
