San Luis is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in San Luis are considered greater risk due to market dynamics. Interest rates for multifamily loans in San Luis are higher than the national average. San Luis apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in San Luis.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in San Luis are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.63% - 6.87% |
| 7 Year Fixed | 6.29% - 6.53% |
| 10 Year Fixed | 6.43% - 6.67% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in San Luis.
The city of San Luis in Yuma County has a population of 34,778. The median rent in Yuma County for a 2 bedroom is $991. The median San Luis resident is 30 years old with a yearly income of $17,655. The average family has 3.98 members and a median household income of $37,255. San Luis has a 9% higher education rate. The unemployment rate in San Luis is 14.2%.
30.2% of San Luis households are renters.
33% median household income spent on rent.
Bedrooms |
Yuma County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $711 | $747 | $737 |
| 1 bedroom | $754 | $822 | $813 |
| 2 bedroom | $991 | $1,038 | $1,015 |
| 3 bedroom | $1,412 | $1,433 | $1,325 |
| 4 bedroom | $1,716 | $1,597 | $1,521 |
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