Loading...

Multifamily Loans in
San Luis Obispo, CA

Overview

San Luis Obispo is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in San Luis Obispo are considered moderate risk due to market dynamics. Interest rates for multifamily loans in San Luis Obispo are slightly higher than the national average. San Luis Obispo apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in San Luis Obispo.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in San Luis Obispo, CA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in San Luis Obispo are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.56% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.61% - 3.85%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in San Luis Obispo may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Lenders in San Luis Obispo, CA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in San Luis Obispo.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 03, 2021


San Luis Obispo Market

The city of San Luis Obispo in San Luis Obispo County has a population of 47,459. The median rent in San Luis Obispo County for a 2 bedroom is $1,795. The median San Luis Obispo resident is 27 years old with a yearly income of $25,503. The average family has 2.94 members and a median household income of $56,071. San Luis Obispo has a 50% higher education rate. The unemployment rate in San Luis Obispo is 3.7%.


Population
47,459 people

County
San Luis Obispo County

Renters

61.2% of San Luis Obispo households are renters.


Rent Burden

49.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
San Luis Obispo County 1
California 2
National 2
Studio $1,257 $1,137 $737
1 bedroom $1,362 $1,291 $813
2 bedroom $1,795 $1,635 $1,015
3 bedroom $2,569 $2,254 $1,325
4 bedroom $3,101 $2,613 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

San Luis Obispo Demographics


Median Individual Income
$25,503 / year

Median Household Income
$56,071 / year

Families w/ Dual Incomes
57%

Unemployment Rate
3.7%
Household Income Distribution
San Luis Obispo, CA

Median Age
27 years

Avg Family Size
2.94 people
Age Distribution
San Luis Obispo, CA

College Education or Above
50%

STEM College Graduates
53%
Education Distribution
San Luis Obispo, CA
Source: U.S. Census Bureau

Ready To Get Quotes?

We're here to help.

(866) 484-8134

A SoftQuotes advisor is ready to help.

Get Quotes

Quotes within 1 business day