California: In the Spotlight
California is one of the fastest-growing states in the country. This state that’s famous for celebrities, sunshine, and some of the country’s best wines is also home to about 40 million residents, with the population on a slow but steady increase as the past few years have passed. Although people primarily think of cities like Los Angeles and San Francisco, the state is full of places with multifamily potential.
- California covers 163,696 square miles, making it the third-largest state in the country
- The Greater Los Angeles area is the second most populous urban area in the country with 18.7 million residents
- California has nearly 18 million employees in the state, which is nearly half of the entire population
- The state’s median age is 36
- The average income in California (household) is $75,000
- California is home to the lowest elevation of 279 feet below sea level and the highest elevation (Mt. Whitney) of 14,505 feet
California Apartment Loan and Multifamily Property Facts
California is up and down in terms of its multifamily market, with cities like LA seeing growth and areas like Northern California taking a hit because jobs are scarcer. People often hear about how prices are high because there is an underproduction of available housing, but new developments are working to change that. Currently, Los Angeles is adding units by the thousands, and plenty of new projects are underway.
- In 2020, California saw as many as 280,000 units created and put into the market
- Rent control is helping improve rental rates for properties in price-gouging cities and markets
- Suburban multifamily developments are going to outperform the rest of the market
- Smaller metro areas are seeing growth where large cities are seeing a decline, in many cases, spurring development in these outlying areas
- In 2019 alone, more than $9.5 billion was spent on apartment buildings in Los Angeles
No matter where you go, multifamily properties seem to remain one of the most viable assets for investors, so now is a great time to consider California apartment loans.
California Apartment Loan and Lending Options
In the state of California, our team is experienced with several types of lending options. We can help you find the right loans and can offer solutions through:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS Loans
- Apartment construction loans
- And more!
Finance Your California Apartment Building Now
Apartment.loans has the resources and tools that you need to get the right apartment loans and commercial real estate financing every time. We can provide plenty of lending solutions for California apartment loans and financing, and can even help with value-add opportunities and ground-up developments. Or, we can handle a simple loan for a stabilized property and get you on your way sooner.
No matter what it takes, we will make sure that we get the job done and help you get the loan that you need. Just let us know what we can do, whether it’s a standard loan or specialty financing, and even if you have questions or want to learn more about our California apartment loans. To get started on your new venture, contact our California Apartment Lending Specialists at (800) 567-9631 or [email protected].
Apartment building loans from just 750,000 and up.