FINANCED
Rakesh Modi Secures $1.4M Acquisition Loan For Mixed-use Property In Inglewood, CA
121 South Fir Avenue
Mixed-use
4,100 SF
4,100 SF
Financed 209 days ago
Summary
Loan
CALIFORNIA
Mixed-use
4,100 sqft
The property involved in this transaction is a mixed-use office/flex building located at 121 South Fir Avenue in Inglewood, CA. It spans a total of 4,100 square feet and sits on a .24 acre lot. The property was purchased for $1,580,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $1,580,000
- Lender: Lee Kleinman - Business Finance Capital CDC
- Landlord: Rakesh Modi
- Loan Amount: $1,422,000
- Loan Type: Acquisition
This transaction was made possible through the SBA 504 program, where the bank provided a 50% 1st mortgage and the SBA will provide a 40% 2nd mortgage. The loan terms allowed for the owner-user purchase of the property.
Players
All
1
Lenders
1
Details
FINANCED
IMAGE: Lee Kleinman
DATE: 09/25/2023
ADDRESS: 121 South Fir Avenue
MARKET: Inglewood, CA
ASSET TYPE: Mixed-use ~ SF : 4,100
LENDER: Lee Kleinman (@Busbnkr) - Business Finance Capital CDC (@BFCFunding)
LANDLORD: Rakesh Modi
LOAN AMOUNT: $1,422,000
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. This office/flex building consists of 4,100 SF situated on a .24 acre lot and traded for $1,580,000.View on map
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Address121 South Fir Avenue
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