Updated Feb 16, 2024
Verus CREF Provides $4.96M Acquisition Loan For Mixed-Use Property In Moorpark
484 East Los Angeles Avenue, Moorpark, CA 93021, USA
$4,960,000
$156/SF
Building Size
31,661 SF
Asset Type
Mixed-use
Closing
Sep 15, 2021
About this deal
AI
The acquisition of a mixed-use property located at 484 East Los Angeles Avenue in Moorpark has been financed through a $4,960,000 loan. The property spans 31,661 square feet and features a combination of residential and commercial units. The loan was provided by Verus CREF, and it was obtained for the purpose of acquiring the property.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $4,960,000
- Address: 484 East Los Angeles Avenue, Moorpark
- Market: Moorpark
- Asset Size: 31,661 SF
The loan for the acquisition of the 31,661 SF mixed-use property was secured through Verus CREF, serving as the lender. The landlord in this transaction is James Su. The broker involved in the deal is Brandon Harris from BlackBearCapitalPartners. The loan terms include a 2-year non-recourse interest-only loan, which provides 100% future funding for tenant improvements, leasing commissions, and capital expenditures.
On the Map
$4,960,000
$156/SF
Mixed-use
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Players
Moorpark Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.20%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93