Washington Federal Bank Provides $2M Refinance Loan For Multifamily Property In Phoenix
5022 North 17th Avenue
$2,000,000
$91/SF
Building Size
21,842 SF
Asset Type
MultiFamily
Closing
Dec 5, 2022
AI
Located at 5022 North 17th Avenue in Phoenix, AZ, this multifamily property spans a total of 21,842 square feet. The property was recently involved in a refinancing deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Lender: Washington Federal Bank
- Brokers: John Libretti & Gabby Cali - Progress Capital
- Loan Type: Refinance
This transaction was facilitated by John Libretti and Gabby Cali from Progress Capital. They represented the borrower in securing a $2,000,000 refinance loan from Washington Federal Bank.
Players
Phoenix MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93