California Multifamily Loans in 2024
At Select Commercial, we specialize in California apartment building loans and any type of multifamily financing, offering competitive rates and customized apartment loan solutions starting at $1,500,000. Whether you're using multifamily financing for an apartment complex or seeking a multifamily loan to finance an apartment building, our expertise in California multifamily investment is unmatched. Explore our California commercial mortgages for diverse real estate opportunities, or visit our commercial mortgage rates page for a detailed overview of our loan products and their rates available nationwide.
California Multifamily Loan Rates - updated 7/27/24
| Multifamily Loan > $6Million | Get Free Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Multifamily 5 Yr Fixed | 5.52% | Up to 80% | |
| Multifamily 7 Yr Fixed | 5.49% | Up to 80% | |
| Multifamily 10 Yr Fixed | 5.43% | Up to 80% | |
| Multifamily Loan < $6Million | Get Free Quote | ||
| Loan Type | Rate* | LTV | |
| Multifamily 5 Yr Fixed | 6.08% | Up to 80% | |
| Multifamily 7 Yr Fixed | 5.85% | Up to 80% | |
| Multifamily 10 Yr Fixed | 5.74% | Up to 80% | |
California Multifamily Loan Benefits
California Apartment Loan rates start as low as 5.43% (as of July 27th, 2024)
• A commercial mortgage broker with over 30 years of lending experience
• No upfront application or processing fees
• Simplified application process
• Up to 80% LTV on multifamily financing
• Terms and amortizations up to 30 years
• Multifamily loans for purchase and refinance, including cash-out
• 24 hour written pre-approvals with no cost and no obligation
Our Reviews
2024 California Multifamily Loan and Market Trends
As the multifamily market adjusts to a more predictable interest rate environment, transaction activities in the California Multifamily Loan market are aligning more closely with historical norms. After several years of unprecedented trading volumes, last year's transactions settled at levels similar to those seen in 2014, a considerable slowdown from the peaks of 2021-2022. This shift has been primarily due to higher interest rates, which expanded the price expectation gap between buyers and sellers and slowed rent growth. Additionally, elevated vacancy rates and increased operating costs have also contributed to this trend, leading many property owners to delay selling and extend their holding periods.
The anticipated flood of properties hitting the market, driven by maturing debts and stricter refinancing rates, did not occur, leaving significant capital allocated for acquiring distressed properties largely unutilized. However, as the market adjusts to the stabilizing but elevated interest rate landscape, the California Apartment Loan market is expected to regain momentum gradually.
Investors, recalling strategies from before the financial crisis, are adapting to a potentially flat or slightly declining interest rate scenario in the coming year. There is substantial capital, both institutional and private, poised for investment, which will aid in price discovery and help bridge the expectation gap. In the California Multifamily Loan market, value creation is becoming a crucial strategy for investors dealing with negative leverage scenarios. Despite cap rates increasing by up to 200 basis points over the past year, they often remain below the cost of debt capital. This situation prompts buyers to seek rapid revenue enhancement through operational improvements, property upgrades, and other strategies, marking a return to traditional investment standards seen before the global financial crisis.
2024 Investment Outlook for California Apartment Loan Market
- Acquisition Strategies: Last year, about 40 percent of property trades occurred in tertiary markets, which now nearly equals the 45 percent in primary markets. The California Apartment Loan market benefits from reduced supply pressure and cost-of-living driven in-migration, trends expected to continue in 2024 as investors chase yields in smaller cities.
- Operating Costs: Operating costs are on the rise, with insurance costs up by 120 percent over the last four years due to more frequent and severe natural disasters, increased property values, and higher repair costs. Combined with a 40 percent rise in property taxes since 2018 and escalating labor costs, these factors are squeezing investor margins in the California Multifamily Loan sector.
- Investor Generation Gap: There is a growing divide between investors who began their careers post-financial crisis, accustomed to a 2.5 percent average 10-year Treasury rate and rent growth above 5 percent, and those who invested during the 90s and early 2000s, who dealt with a 5.5 percent Treasury rate and rent growth around 3.5 percent. This disparity is shaping the strategies of investors and is likely to influence active participants in the California Apartment Loan market this year.
Your Trusted California Lender Source for Large Multifamily Properties Over $10 Million
Select Commercial Funding LLC specializes in providing exceptional mortgage brokerage services for large multifamily properties and high-value apartment complexes in California. As a top commercial mortgage broker, our expertise extends to multifamily real estate financing, ensuring that investors receive the best terms and rates for their substantial investments. With our deep industry knowledge and commitment to excellence, we facilitate seamless financing for large balance multifamily properties, including loans for $10 million and up. Through our correspondent relationships with Freddie Mac, Fannie Mae, HUD, CMBS, life companies, and other multifamily real estate lenders, we can secure lower rates and higher leverage for our clients. Unlike banks and credit unions, we collaborate with a wide range of lenders to find the one best aligned with your unique scenario, ensuring you receive the most favorable rates and terms. We finance large balance multifamily loans nationwide across all asset classes. Our team’s extensive experience with large multifamily loans helps ensure that loans are funded quickly and at the lowest possible rates. We are dedicated to being the best multifamily mortgage brokers for large properties, providing expert services for high-value apartment complexes.
Tailored Solutions for High-Value California Multifamily Real Estate Financing
At Select Commercial, we understand the unique challenges and opportunities involved in high-value multifamily real estate financing. Our customized loan programs are designed to meet the specific needs of large-scale and institutional investors, offering competitive rates and flexible terms on multifamily properties nationwide. With LTV’s up to 80% and low market rates, we provide our clients with some of the best financing terms available. Whether you are seeking financing for luxury California apartment complex mortgages or large balance multifamily loans over $10 million, our team provides the strategic support you need to achieve your investment goals. Recognized as top multifamily mortgage brokers for high-value properties, we ensure you receive tailored solutions for prime multifamily properties. By leveraging our strong relationships with a variety of lending institutions, we secure some of the lowest rate multifamily and apartment loans for our clients, making us your go-to partner for large balance multifamily financing.
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a renowned expert in the field of multifamily financing. His insights and perspectives are regularly sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.
Persistent Inflation and Its Effects on CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that while inflation is still a challenge for the Federal Reserve, there are many positive signs for the commercial real estate industry. The headline Consumer Price Index rose 3.2 percent for the year ended Feb. 29, a figure 20 basis points lower than the Dec. 31, 2023, rate. read the full article.
Commercial Spotlight: Mid-Atlantic Region In this four-state powerhouse, smaller metros are thriving.
In a feature in Scotsman Guide, the Mid-Atlantic Region's real estate dynamics are explored, highlighting its resilience and growth amidst the pandemic.
Stephen Sobin of Select Commercial Funding LLC shared insights on the New York market's allure and the challenges buyers face. He noted the shift from primary urban areas to tertiary markets due to evolving preferences and financial conditions. For a deeper dive into Sobin's analysis, read the full article.
What the New Jobs Report Means for CRE
In an article titled "What the New Jobs Report Means for CRE" in Commercial Property Executive, Stephen Sobin shared his perspective on the latest jobs report and its implications for the Commercial Real Estate (CRE) sector. He highlighted the challenges posed by high interest rates and the prevailing uncertainty in the market. Sobin remarked, "Sellers aren’t selling, buyers aren’t buying... Everyone is waiting because no one knows what to expect." For a detailed analysis and more of Sobin's insights, read the full article.
Decoding "Junk Fees" in Rental Housing
In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.
Understanding the Impact of Federal Reserve's Decisions
In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.
Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.
Frequently Asked Questions
Is multi-family real estate a good investment in 2024?
Ongoing inflation and high interest rates significantly slowed the pace of the commercial real estate market in 2023. Investors and market experts were hoping for considerable decreases in commercial mortgage rates in 2024. The expectation was that the Fed would get inflation under control and then lower rates. However, as we move into the middle of 2024, inflation is still running higher than the Fed would like. The Fed has hinted that they do not anticipate lowering rates in 2024. In fact, commercial mortgage rates have been steadily rising. Some property types, however, are outperforming others. Apartment buildings in desirable neighborhoods are performing better than other asset classes, as owners have been able to raise rents and keep up with rising interest rates. Multifamily properties in smaller and less desirable areas, or areas where unemployment is rising, are not performing as well, as rent increases are harder to implement. In the office sector, only medical office buildings are generating lender interest. General office properties have underperformed the market as a result of the work from home policies established during the Covid-19 pandemic. Office demand is unlikely to return to pre-Covid levels making the office sector extremely hard to navigate right now. In the retail sector, essential service businesses, such as grocery stores and pharmacies, are performing well, while traditional brick and mortar retailers are still feeling the effects of Covid-19 and the competition from online retailers. Many malls are experiencing record high vacancy levels, and some are being repositioned for other purposes. In the industrial sector, we are seeing strong demand for warehouse and distribution space to accommodate the online retailers. Industrial space in urban markets and close to transportation are performing very well. One positive is that a large number of CMBS loans are coming due in 2024. Even in a high interest rate environment, owners of these properties will have to refinance or sell. This should lead to some activity in the commercial mortgage market in 2024.
There are many different types of lenders offering a myriad of different loan products to finance the acquisition or refinance of apartment properties nationwide. These lenders include agency lenders (Fannie Mae and Freddie Mac), local and national banks, insurance companies, credit unions and private lenders.
Most lenders write apartment loans for five, seven or ten years (fixed) with a 30 year amortization. It is also possible to obtain loans that are fixed for up to 30 years, although this is not the norm. Rates are typically based on a margin over the corresponding US Treasury rate.
Lenders offer non-recourse to strong borrowers and solid properties. The borrower will be expected to have strong credit, good net worth and liquidity, and experience owning and managing similar properties. The property will be expected to demonstrate solid long term positive cash flow, be in good to excellent condition, and be located in a strong market with low vacancy rates.
Apartment loans are typically screened and pre-approved in 2-3 days. Since lenders require appraisals, environmental and property condition reports, and title, closings will usually take 45-60 days from application.
Recent Banking Failures Likely To Impact California Multifamily Lending
The recent collapse of Silicon Valley Bank and Signature Bank has sent shockwaves through the business and real estate lending sectors. As a leading CA commercial mortgage broker with over 30+ years of experience, Select Commercial knows that the multifamily sector is not immune to these developments. Here's how these banking failures could impact multifamily lending:
Regional Banks Under Pressure
Regional banks, which provide significant liquidity to the apartment sector, are likely to face increased pressure. The collapse of SVB and Signature Bank has raised concerns about the stability of smaller banks. This could lead to a pullback from regional banks providing loans to the multifamily sector, making it more challenging for developers and investors to secure financing.
Development Challenges
Developers could face significant challenges, particularly in securing construction loans and value-add renovation dollars. The current environment is leading to a slowdown in construction lending and a return to traditional underwriting and banker skepticism. This could particularly impact the affordable housing sector, where developers need their financing lined up to secure tax credits.
Volatility in the CMBS Market
CMBS loans have experienced turbulence following the bank failures. This volatility could impact a new crop of lenders that have emerged over the past half-decade, many of which are capital markets-dependent. If the securitization market stabilizes, some of the CMBS and bridge lenders may re-enter the market to fill the liquidity gaps left by regional lenders.
Interest Rate Uncertainty
The bank failures could also contribute to uncertainty around commercial mortgage rates. If these failures lead to a slowdown in rate hikes by the Federal Reserve, this could potentially benefit the commercial real estate market in the long run. However, it's too early to predict the exact impact on apartment transaction volume.
In summary, the recent banking failures have the potential to significantly impact how banks handle multifamily loans. We will closely monitoring these developments to provide the best advice and service to my clients during these uncertain times.
Apartment Loan Types We Serve
If you are looking to purchase or refinance a Los Angeles apartment building, don't hesitate to contact us. We arrange financing in the city of Los Angeles for the following:
- Large urban high-rise multifamily buildings
- Suburban garden multifamilycomplexes
- Small multifamily buildings containing 5+ units
- Underlying cooperative multifamily building loans
- Portfolios of small multifamily properties and/or single-family rental properties
- Other multi-family and mixed-use properties
Apartment Loan Helpful Articles
How to Get the Best Rate on a Multifamily LoanHow to Buy an Apartment Building
Uncomplicated Underwriting
How to Invest in an Apartment Building
Are You Shopping for an Apartment Building Loan?
How To Get The Best Rates On An Apartment Refinance
How do we help our California apartment loan clients get the best rate and terms?
Select Commercial has excellent California apartment building loan products and options available for owners and purchasers of apartment properties throughout the state of California. Whether you are looking for a small apartment building loan or are looking for apartment building financing for a complex with hundreds of units, we can help you find the optimal apartment building financing to meet your apartment building loan needs. While we lend across the entire continental US, we are able to give our best rates and loan programs to certain areas that we feel are strong markets. California is one of the states that we consider to be a premium market for apartment building loans and we actively look to originate good quality loans here for our clients. We have a diverse array of many available loan products to help qualified CA borrowers looking to purchase or refinance an apartment property. We offer apartment loans with terms and amortizations up to 30 years, recourse and non-recourse, and many options for prepayment. We typically approve apartment building loans within 1 day and usually close within 45 days of application. Our clients love our simplified application process, 24-hour pre-approvals with no-cost and no-obligation, great rates and terms, fast closings and personalized service.
Recent Multifamily Loan Closings
Whether you are purchasing or refinancing, we have the right solutions available for your multifamily mortgage loans. We will entertain apartment loan requests of all sizes, beginning at $1,500,000. Get started with a Free Commercial Mortgage Loan Quote.
Major California We've Helped Secure Multifamily Financing
We specialize in multifamily loans across California, particularly in these major cities. Explore the unique opportunities and rental stats each city offers to multifamily investors by clicking on the links below.
- Los Angeles
- Oakland
- Orange County
- Sacramento
- San Diego
- San Jose
- San Francisco
- Riverside
- San Bernardino
California Rental Statistics and Investor Highlights For Some Of The Areas We've Helped Secure Multifamily Financing
The rental rates for multifamily properties in California varied widely depending on location. According to rentcafe.com, the average rent in the U.S. is $1,702 (updated May, 2023) with an average apartment size of 897 sq. ft. The average rent for an apartment in the state of California was $2,450 with an average size of N/A sq. ft. According to the US Census Bureau, the apartment rental vacancy rate for California is 4.9%.
Anaheim Multifamily Loan Investor Information
• High rental demand due to Anaheim's vibrant economy and attractions like Disneyland and the Anaheim Convention Center.
• Median rent of $1,995 makes it attractive for tenants and investors.
• Expertise in Anaheim multifamily financing available through Select Commercial.
Anaheim Apartment Rental Data
The average rent in Anaheim is $1,995 as of July 2023, a 5% increase compared to the previous year. With a diverse population and a significant percentage of households speaking a language other than English at home, Anaheim presents a unique investment opportunity.
See the most up-to-date Anaheim apartment loan information including rates and additional rental data.
Bakersfield Multifamily Loan Investor Information
• Bakersfield's strong agricultural and oil industries contribute to a steady rental market.
• Median rent of $1,085 makes it attractive for tenants and investors.
• Expertise in Bakersfield multifamily financing available through Select Commercial.
Bakersfield Apartment Rental Data
The average rent in Bakersfield is $1,085 as of July 2023, a 1% decrease compared to the previous year. With a diverse population and a significant percentage of households speaking a language other than English at home, Bakersfield presents a unique investment opportunity.
See the most up-to-date Bakersfield apartment loan information including rates and additional rental data.
Chula Vista Multifamily Loan Investor Information
• Chula Vista's proximity to San Diego and the Mexican border makes it a unique and diverse rental market.
• Median rent of $1,995 makes it attractive for tenants and investors.
• Expertise in Chula Vista multifamily financing available through Select Commercial.
Chula Vista Apartment Rental Data
The average rent in Chula Vista is $1,995 as of July 2023, a 1% increase compared to the previous year. With a diverse population and a significant percentage of households speaking a language other than English at home, Chula Vista presents a unique investment opportunity.
See the most up-to-date Chula Vista apartment loan information including rates and additional rental data.
Corona Multifamily Loan Investor Information
• Corona's strategic location between major cities like Los Angeles and Riverside makes it an attractive rental market.
• Median rent of $2,005 makes it attractive for tenants and investors.
• Expertise in Corona multifamily financing available through Select Commercial.
Corona Apartment Rental Data
The average rent in Corona is $2,005 as of July 2023, a 12% decrease compared to the previous year. With a diverse population and a significant percentage of households speaking a language other than English at home, Corona presents a unique investment opportunity.
See the most up-to-date Corona apartment loan information including rates and additional rental data.
Costa Mesa Multifamily Loan Investor Information
• Costa Mesa's coastal location and thriving arts scene contribute to a dynamic rental market.
• Median rent of $2,557 makes it attractive for tenants and investors.
• Expertise in Costa Mesa multifamily financing available through Select Commercial.
Costa Mesa Apartment Rental Data
The average rent in Costa Mesa is $2,557 as of July 2023, a 16% increase compared to the previous year. With a diverse population and a significant percentage of households speaking a language other than English at home, Costa Mesa presents a unique investment opportunity.
See the most up-to-date Costa Mesa apartment loan information including rates and additional rental data.
El Monte Multifamily Loan Investor Information
• El Monte's location in the San Gabriel Valley and its strong community make it an appealing rental market.
• Median rent of $1,585 makes it attractive for tenants and investors.
• Expertise in El Monte multifamily financing available through Select Commercial.
El Monte Apartment Rental Data
The average rent in El Monte is $1,585 as of July 2023, a 7% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, El Monte presents a unique investment opportunity.
See the most up-to-date El Monte apartment loan information including rates and additional rental data.
Elk Grove Multifamily Loan Investor Information
• Elk Grove's suburban charm and proximity to Sacramento make it a desirable rental market.
• Median rent of $1,850 makes it attractive for tenants and investors.
• Expertise in Elk Grove multifamily financing available through Select Commercial.
Elk Grove Apartment Rental Data
The average rent in Elk Grove is $1,850 as of July 2023, a 16% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Elk Grove presents a unique investment opportunity.
See the most up-to-date Elk Grove apartment loan information including rates and additional rental data.
Escondido Multifamily Loan Investor Information
• Escondido's rich cultural history and its location within a short drive from the Pacific Ocean make it an appealing rental market.
• Median rent of $1,980 makes it attractive for tenants and investors.
• Expertise in Escondido multifamily financing available through Select Commercial.
Escondido Apartment Rental Data
The average rent in Escondido is $1,980 as of July 2023, a 4% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Escondido presents a unique investment opportunity.
See the most up-to-date Escondido apartment loan information including rates and additional rental data.
Fontana Multifamily Loan Investor Information
• Fontana's rapid growth and development in the Inland Empire region contribute to a robust rental market.
• Median rent of $1,550 makes it attractive for tenants and investors.
• Expertise in Fontana multifamily financing available through Select Commercial.
Fontana Apartment Rental Data
The average rent in Fontana is $1,550 as of July 2023, a 2% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Fontana presents a unique investment opportunity.
See the most up-to-date Fontana apartment loan information including rates and additional rental data.
Fullerton Multifamily Loan Investor Information
• Fullerton's vibrant arts scene and its status as a college town contribute to a dynamic rental market.
• Median rent of $2,140 makes it attractive for tenants and investors.
• Expertise in Fullerton multifamily financing available through Select Commercial.
Fullerton Apartment Rental Data
The average rent in Fullerton is $2,140 as of July 2023, a 2% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Fullerton presents a unique investment opportunity.
See the most up-to-date Fullerton apartment loan information including rates and additional rental data.
Fresno Multifamily Loan Investor Information
• Fresno's status as a major city in California's Central Valley contributes to a stable rental market.
• Median rent of $1,315 makes it attractive for tenants and investors.
• Expertise in Fresno multifamily financing available through Select Commercial.
Fresno Apartment Rental Data
The average rent in Fresno is $1,315 as of July 2023, a 12% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Fresno presents a unique investment opportunity.
See the most up-to-date Fresno apartment loan information including rates and additional rental data.
Garden Grove Multifamily Loan Investor Information
• Garden Grove's cultural diversity and its location in the Orange County region contribute to a vibrant rental market.
• Median rent of $1,975 makes it attractive for tenants and investors.
• Select Commercial offers expertise in multifamily loans in Garden Grove.
Garden Grove Apartment Rental Data
The average rent in Garden Grove is $1,975 as of July 2023, a 3% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Garden Grove presents a unique investment opportunity.
See the most up-to-date Garden Grove apartment loan information including rates and additional rental data.
Hayward Multifamily Loan Investor Information
• Hayward's location in the Bay Area and its diverse economy make it a strong rental market.
• Median rent of $1,998 makes it attractive for tenants and investors.
• Select Commercial provides expertise in apartment loans in Hayward.
Hayward Apartment Rental Data
The average rent in Hayward is $1,998 as of July 2023, which has remained flat compared to the previous year. With a significant percentage of households speaking a language other than English at home, Hayward presents a unique investment opportunity.
See the most up-to-date Hayward apartment loan information including rates and additional rental data.
Huntington Beach Multifamily Loan Investor Information
• Huntington Beach's coastal location and vibrant surf culture make it a popular rental market.
• Median rent of $2,255 makes it attractive for tenants and investors.
• Select Commercial offers expertise in multifamily loans in Huntington Beach.
Huntington Beach Apartment Rental Data
The average rent in Huntington Beach is $2,255 as of July 2023, a 1% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Huntington Beach presents a unique investment opportunity.
See the most up-to-date Huntington Beach apartment loan information including rates and additional rental data.
Inglewood Multifamily Loan Investor Information
• Inglewood's cultural diversity and its proximity to Los Angeles contribute to a dynamic rental market.
• Median rent of $1,860 makes it attractive for tenants and investors.
• Select Commercial provides expertise in multifamily loans in Inglewood.
Inglewood Apartment Rental Data
The average rent in Inglewood is $1,860 as of July 2023, a 6% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Inglewood presents a unique investment opportunity.
See the most up-to-date Inglewood apartment loan information including rates and additional rental data.
Irvine Multifamily Loan Investor Information
• Irvine's status as a tech and innovation hub in Southern California contributes to a high-demand rental market.
• Median rent of $2,830 makes it attractive for tenants and investors.
• Select Commercial offers expertise in apartment loans in Irvine.
Irvine Apartment Rental Data
The average rent in Irvine is $2,830 as of July 2023, a 3% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Irvine presents a unique investment opportunity.
See the most up-to-date Irvine apartment loan information including rates and additional rental data.
Long Beach Multifamily Loan Investor Information
• Long Beach's coastal location and vibrant arts scene make it a sought-after rental market.
• Median rent of $1,825 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for apartment loans in Long Beach.
Long Beach Apartment Rental Data
The average rent in Long Beach is $1,825 as of July 2023, a 2% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Long Beach presents a unique investment opportunity.
See the most up-to-date Long Beach apartment loan information including rates and additional rental data.
Modesto Multifamily Loan Investor Information
• Modesto's agricultural economy and its location in California's Central Valley contribute to a steady rental market.
• Median rent of $1,245 makes it attractive for tenants and investors.
• Select Commercial is a trusted provider of multifamily loans in Modesto.
Modesto Apartment Rental Data
The average rent in Modesto is $1,245 as of July 2023, a 13% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Modesto presents a unique investment opportunity.
See the most up-to-date Modesto apartment loan information including rates and additional rental data.
Moreno Valley Multifamily Loan Investor Information
• Moreno Valley's location in the Inland Empire and its growing economy contribute to a steady rental market.
• Median rent of $1,785 makes it attractive for tenants and investors.
• Select Commercial is a trusted provider of apartment loans in Moreno Valley.
Moreno Valley Apartment Rental Data
The average rent in Moreno Valley is $1,785 as of July 2023, a 14% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Moreno Valley presents a unique investment opportunity.
See the most up-to-date Moreno Valley apartment loan information including rates and additional rental data.
Oceanside Multifamily Loan Investor Information
• Oceanside's coastal location and its proximity to San Diego contribute to a high-demand rental market.
• Median rent of $2,195 makes it attractive for tenants and investors.
• Select Commercial is a trusted provider of multifamily loans in Oceanside.
Oceanside Apartment Rental Data
The average rent in Oceanside is $2,195 as of July 2023, a 10% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Oceanside presents a unique investment opportunity.
See the most up-to-date Oceanside apartment loan information including rates and additional rental data.
Oxnard Multifamily Loan Investor Information
• Oxnard's coastal location and its rich cultural heritage contribute to a dynamic rental market.
• Median rent of $2,169 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Oxnard.
Oxnard Apartment Rental Data
The average rent in Oxnard is $2,169 as of July 2023, a 17% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Oxnard presents a unique investment opportunity.
See the most up-to-date Oxnard apartment loan information including rates and additional rental data.
Pasadena Multifamily Loan Investor Information
• Pasadena's rich cultural scene and its status as a tech and innovation hub contribute to a high-demand rental market.
• Median rent of $2,350 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Pasadena.
Pasadena Apartment Rental Data
The average rent in Pasadena is $2,350 as of July 2023, a 4% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Pasadena presents a unique investment opportunity.
See the most up-to-date Pasadena apartment loan information including rates and additional rental data.
Rancho Cucamonga Multifamily Loan Investor Information
• Rancho Cucamonga's location in the Inland Empire and its growing economy contribute to a steady rental market.
• Median rent of $2,304 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Rancho Cucamonga.
Rancho Cucamonga Apartment Rental Data
The average rent in Rancho Cucamonga is $2,304 as of July 2023, a 20% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Rancho Cucamonga presents a unique investment opportunity.
See the most up-to-date Rancho Cucamonga apartment loan information including rates and additional rental data.
Santa Ana Multifamily Loan Investor Information
• Santa Ana's rich cultural heritage and its location in the Greater Los Angeles area contribute to a dynamic rental market.
• Median rent of $2,100 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Santa Ana.
Santa Ana Apartment Rental Data
The average rent in Santa Ana is $2,100 as of July 2023, a 2% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Santa Ana presents a unique investment opportunity.
See the most up-to-date Santa Ana apartment loan information including rates and additional rental data.
Santa Clarita Multifamily Loan Investor Information
• Santa Clarita's location in the Santa Clarita Valley and its family-friendly environment contribute to a high-demand rental market.
• Median rent of $2,328 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Santa Clarita.
Santa Clarita Apartment Rental Data
The average rent in Santa Clarita is $2,328 as of July 2023, a 24% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Santa Clarita presents a unique investment opportunity.
See the most up-to-date Santa Clarita apartment loan information including rates and additional rental data.
Santa Rosa Multifamily Loan Investor Information
• Santa Rosa's location in the heart of wine country and its vibrant arts scene contribute to a high-demand rental market.
• Median rent of $1,995 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Santa Rosa.
Santa Rosa Apartment Rental Data
The average rent in Santa Rosa is $1,995 as of July 2023, an 18% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Santa Rosa presents a unique investment opportunity.
See the most up-to-date Santa Rosa apartment loan information including rates and additional rental data.
Simi Valley Multifamily Loan Investor Information
• Simi Valley's location in the Simi Valley and its family-friendly environment contribute to a steady rental market.
• Median rent of $2,245 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for multifamily loans in Simi Valley.
Simi Valley Apartment Rental Data
The average rent in Simi Valley is $2,245 as of July 2023, a 3% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Simi Valley presents a unique investment opportunity.
See the most up-to-date Simi Valley apartment loan information including rates and additional rental data.
Stockton Multifamily Loan Investor Information
• Stockton's location in the Central Valley and its diverse economy contribute to a steady rental market.
• Median rent of $1,195 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for apartment loans in Stockton.
Stockton Apartment Rental Data
The average rent in Stockton is $1,195 as of July 2023, a 4% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Stockton presents a unique investment opportunity.
See the most up-to-date Stockton apartment loan information including rates and additional rental data.
Thousand Oaks Multifamily Loan Investor Information
• Thousand Oaks' location in the Conejo Valley and its high quality of life contribute to a steady rental market.
• Median rent of $2,520 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for apartment loans in Thousand Oaks.
Thousand Oaks Apartment Rental Data
The average rent in Thousand Oaks is $2,520 as of July 2023, a 3% decrease compared to the previous year. With a significant percentage of households speaking a language other than English at home, Thousand Oaks presents a unique investment opportunity.
See the most up-to-date Thousand Oaks apartment loan information including rates and additional rental data.
Torrance Multifamily Loan Investor Information
• Torrance's location in the South Bay region and its diverse economy contribute to a dynamic rental market.
• Median rent of $2,098 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for apartment loans in Torrance.
Torrance Apartment Rental Data
The average rent in Torrance is $2,098 as of July 2023, a 9% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Torrance presents a unique investment opportunity.
See the most up-to-date Torrance apartment loan information including rates and additional rental data.
Vallejo Multifamily Loan Investor Information
• Vallejo's location in the North Bay region and its vibrant arts scene contribute to a dynamic rental market.
• Median rent of $1,599 makes it attractive for tenants and investors.
• Select Commercial is a trusted source for apartment loans in Vallejo.
Vallejo Apartment Rental Data
The average rent in Vallejo is $1,599 as of July 2023, a 7% increase compared to the previous year. With a significant percentage of households speaking a language other than English at home, Vallejo presents a unique investment opportunity.
See the most up-to-date Vallejo apartment loan information including rates and additional rental data.
Overall, we expect the rise in borrowing costs to continue putting pressure on people to rent for longer periods. This supports the case that there will be strong demand for apartment building loans in 2023.
California Apartment Building Financing
Select Commercial provides apartment building financing and commercial mortgages throughout the state of California including but not limited to the areas below.