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2309 Edwards Ave South El M...

Lee Kleinman Acquires Industrial Property In South El Monte With $4.59M Loan
FINANCEDIndustrial

Lee Kleinman Acquires Industrial Property In South El Monte With $4.59M Loan

2309 Edwards Ave South El Monte, CA 91733, USA

$4,590,000

$255/SF

Building Size

18,000 SF

Asset Type

Industrial

Closing

Jun 23, 2023

AI

Lee Kleinman from Business Finance Capital provided a loan of $4,590,000 for the acquisition of an industrial property located at 2309 Edwards Ave in South El Monte. The property, spanning 18,000 square feet and situated on a 36,000 square feet lot, was purchased for $5,100,000.

Summary of Transaction Details

  • Property Type: Industrial
  • Transaction Amount: $5,100,000
  • Address: 2309 Edwards Ave, South El Monte
  • Market: South El Monte
  • Lender: Lee Kleinman - Business Finance Capital
  • Landlord: Allen Lam
  • Broker: Carlos Castillo - Daum Commercial Real Estate Services
  • Loan Amount: $4,590,000
  • Loan Type: Acquisition
  • Loan Terms: This was an owner-user purchase through the SBA 504 program where the bank provided a 50% 1st mortgage and the SBA will provide a 40% 2nd mortgage.

Carlos Castillo from Daum Commercial Real Estate Services represented the buyer, facilitating the loan process and ensuring a successful acquisition. With the assistance of the SBA 504 program, the buyer was able to secure favorable loan terms suitable for the acquisition of this industrial property.

Players

Carlos Castillo

Daum Commercial Real Estate Services

Broker

$21.3M

vol

3 deals

Broker
Business Finance Capital
Business Finance CapitalLender

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

3.46%

Cash-on-Cash

-0.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93