Silverhill Funding Provides $1.8M Refinance Loan For Industrial Property In Los Angeles
1842 East 58th Place
$1,800,000
$123/SF
Building Size
14,565 SF
Asset Type
Industrial
Closing
May 30, 2022
AI
An industrial property located at 1842 E. 58th Pl. in Los Angeles has recently undergone a loan transaction. The property spans 14,565 square feet and is owned by Carlos & Maria Herrera.
Summary of transaction details:
- Property Type: Industrial
- Loan Amount: $1,800,000
- Loan Type: Refinance
- Loan Terms: 6.375% 30 YEAR FIXED LITE DOC LOAN
- Lender: Silverhill Funding
- Landlord: Carlos & Maria Herrera
- Broker: Merica Mackey - Mac Mortgage Inc.
The loan amount for this transaction is $1,800,000, and it was obtained through Silverhill Funding. The loan type is a refinance, and the terms of the loan include a fixed interest rate of 6.375% over a 30-year period. Merica Mackey from Mac Mortgage Inc. served as the broker for this transaction.
Players
Los Angeles Industrial Market Snapshot
Boundary boundary · Industrial · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93