Updated Mar 11, 2025
Logan Investments Provides $4.5M Construction Loan For Los Angeles Development Site With Ron Sentchuk As Lender's Rep
10808 Morrison Street, North Hollywood, California 91601, United States
$4,500,000
Units
6
Asset Type
Development Site
Closing
Dec 27, 2021
About this deal
AI
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $4,500,000
- Units: 6
- Address: 10808 & 10812 Morrison Street, Los Angeles
- Market: Los Angeles
A construction loan for the development of a six-unit apartment complex was secured for a property located at 10808 & 10812 Morrison Street in Los Angeles. The loan was provided by Logan Investments and the lender's representative was Ron Sentchuk. The loan amount is $4,500,000 and it is a first lien construction loan with a term of 12 months. The purpose of the loan is to build the apartment complex for business use. The landlord of the property is Barry Bitter.
On the Map
$4,500,000
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93