Subordinate Bridge – Seattle, WA

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Note Size: $225,000
>$100K Remaining


Note ID






This is a b piece of a 1st position, senior loan on a multifamily property. The rehab has been completed as of September 15th.


This is a medium rehab on a multifamily apartment complex similar to other projects the sponsor has acquired, renovated and refinanced in the past. The client over budgeted for the rehab as they did not need to incur costs for the roofing and other exterior projects. They are leasing two additional units by end of September and will be beginning the refinance process.


Address: 10707 Des Moines Memorial Dr S, Seattle, WA
  • Country: United States
  • Province / State: Washington
  • Postal code / ZIP: 98168
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  • Note ID 3921
  • Price Note Size: $225,000
  • Property Type Apartment / Multifamily
  • Property status >$100K Remaining
  • Bedrooms 24
  • Bathrooms 18
  • Land area 27,000 SqFt
  • Label Subordinated Note
  • Note Type Fix & Flip
  • Whole Note - Annual Yield (%) N/A
  • Participation - Annual Yield (%) 16.0%
  • Loan Maturity Date (MM/DD/YY) 06/10/24
  • Property Current Value ($) $3,325,000
  • Property Construction Budget ($) $563,542
  • Property After Repair Value ($) $4,350,000
  • Loan to Current Value (%) 69.81%
  • Loan to After Repair Value (%) 66.32%
  • Invest - Participation Agreement Coming Soon.

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