5-15 unit apartment financing - best lenders / banks

[Rob Brown]

I'm looking at a few 6-15 unit apartment deals in San Diego County. I've talked directly to bankers at Chase, Wells, and somebody experienced at Cushman Wakefield who is a loan broker. All of them say under 750k loan amount the rate can be a bit higher, although this is counterintuitive I'm hearing the same thing over and over. The properties I'm looking at are around 1.5-1.8m and can support a loan amount of 900k approx based on bank underwriting. I want to put 950k-1,050,000 down and have a smaller loan, less risk, and more cash flow. Any ideas on who is the best bank / lender to run this deal type though for a coastal San Diego asset? So far I have around 4-4.2% 10 year loan amortized over 30. I'm also looking at 15 year fully amortized over 15 so it's paid in full in 15. Gross cash flows are around 120k on the 8 unit I like best with NOI at 72k around a 40% expense ratio which seems right for recently remodeled units.

Rob