$3.6M Loan on a 24-Unit Twin Peaks Apartment Building in San Francisco

The April 2026 recording at 2 Parkridge Drive is a family matter as much as a financing. JPMorgan Chase recorded a $3,600,000 deed of trust on the 24 unit building on April 9, 2026, executed March 26, flagged as a refinance in county data, as title moved between individual owners sharing a family name. No sale price is recorded, and the parties are individuals rather than entities, so nothing further about them is published here.

The building itself, marketed as 2-10 Parkridge Drive, sits on the border of Twin Peaks and Diamond Heights: 24 units across 17,779 square feet per county records, built in 1967. Rental listings describe a mix of studios, one bedroom, and two bedroom units. The 1967 vintage matters in San Francisco: the city states that units built on or before June 13, 1979 may fall under rent control, and this building predates that line by more than a decade.

The debt history is a study in institutional continuity. Bay View Bank and Washington Mutual recorded loans in 1998, Washington Mutual again in 2000, United Commercial Bank in 2001 and 2007, and Fremont Bank in 2012 and again in 2019 at $3,875,000 on a fifteen year term. The new JPMorgan Chase loan replaces that Fremont position at a slightly smaller balance. Seven distinct lenders appear over 28 years, every one of them a bank.

J.P. Morgan is the database's most active lender with 21 tracked closings, eight of them in San Francisco, and its published multifamily program covers stabilized buildings of five or more units from $500,000 to $25,000,000 or more. It describes itself as the nation's largest multifamily lender. Within San Francisco's tracked record this loan ranks 15th of 26.

The tracked record around it shows how deep the bench is for buildings like this one: closings between $2,985,000 and $4,000,000 were recorded this spring by Citizens Bank, Conventus, First Bridge Funding, Hingham Institution for Savings, and J.P. Morgan itself, several of them within a few weeks of this loan.

For owners planning generational transfers of rent controlled buildings, the recorded sequence here is the useful part: a family title transfer paired with a same period bank refinance, executed without a sale. The financing and the estate planning moved together, and the lender that wrote the previous decade's largest multifamily book was willing to underwrite through it.