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
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