$3.7M Private Refinance of an Oceanfront Delray Beach Duplex

Few records show small balance velocity like this one. In July 2025, a two unit oceanfront duplex at 1690-1692 South Ocean Boulevard in Delray Beach sold for $2,200,000 from a family trust. Twelve days after the recorded sale date, Capital Funding Financial recorded a $2,430,000 twelve month construction deed of trust. Nine months later, on April 7, 2026, Casa Finance Group recorded a $3,675,000 refinance. And by the end of May 2026 the property was listed for sale at $5,450,000. Purchase, renovation financing, refinance, and exit listing, all inside eleven months, all in the public record.

The asset is a side by side duplex of 4,943 square feet, built in 1982, across from Atlantic Dunes Park with beach access. The current sale listing describes remodeled units with impact windows and doors, one unit with a garage, and a 2019 roof. The owner, 1690-1692 S Ocean Dr LLC, is an active Florida entity in the state's 2025 filing series, formed around the acquisition.

The refinance lender is worth knowing about. Casa Finance Group, headquartered in Boca Raton, describes itself as a national private lender with more than $800,000,000 originated across 35 states, writing fix and flip, ground up construction, bridge, and DSCR rental loans from $100,000 to $5,000,000 on single family through 24 unit properties. Those parameters come from the lender's own site. A $3,675,000 refinance of a renovated two unit rental sits squarely inside that box. This is its first closing tracked on LoanList.

Before this cycle, the duplex's debt history was sleepy: residential scale mortgages from Wells Fargo in 2007, a credit union loan in 2004, and 1990s paper, none above $820,000. The 2025 to 2026 sequence tripled the recorded debt in under a year, tracking the renovation program rather than the old rent roll.

Within the tracked Palm Beach record the loan ranks 22nd of 26, in a small balance band with a $3,956,000 Capital Funding Financial loan in Highland Beach and a $3,237,000 Walker and Dunlop loan in Jupiter. For coastal duplex and small multifamily investors, the chain here is a complete playbook with recorded numbers at every step: what the private credit market financed, when, and at what size, from acquisition through the exit listing.