Looking for private lender for my 7 unit multi family. I have owned this very unique property in Tobin hill area , since 2023. Its in great location close to the Pearl brewery , downtown San Antonio , and San Antonio college. 

305 W Poplar St │ Tobin Hill │ 7-Unit Multifamily Value-Add Refi

Current Appraised Value $1,200,000

New 1st Lien Private Note $800,000 @ 8.25% – 8.50% fixed

30-yr amortizing │ 10-yr balloon │ $5,870/mo P&I

No prepayment penalty

Use of Proceeds

├─ $730,000 → Payoff existing maturing loan

└─ $70,000 → 100% repairs on 2 vacant units + minor touch-ups (bids & SOW attached)

Current (5 of 7 units leased)

Gross Rents $6,000/mo │ Est. NOI ≈ $43–46k/yr │ DSCR ≈ 1.05× today

After Repairs (60–90 days)

+2 units @ $1,600 each → +$3,200/mo

New Gross Rents $9,200/mo │ Est. NOI ≈ $67–72k/yr │ DSCR 1.55–1.70×

Post-Rehab Value @ 5.0–5.5% cap $1.22M – $1.44M

→ Lender LTV drops from 66.7% today → 55–65% in <90 days

Cash-Out Structure (lender picks)

A) FULL $70k holdback at title company – released on invoices/inspections lien waivers (recommended)

B) $35k at closing / $35k held back until final completion

C) Improvement Addendum (completion required within 120 days)

San Antonio private lenders self-directed IRAs preferred.

Close in 30–45 days. Happy to use your title company attorney.

Have more photos,  appraisal,  and survey on hand