First Pacific Financial Provides $1.38M Loan For Echo Park Multifamily Property
FINANCED
$1,380,000
+ 1
California
See Similar DealsMultiFamily5,638 SF
Financed 12/30/2021
FINANCED
First Pacific Financial Provides $1.38M Loan For Echo Park Multifamily Property
1110 Echo Park Avenue, Los Angeles, California 90026, United States
See Similar DealsMultiFamily5,638 SF
Financed 12/30/2021
+ 1
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$244
Total Square Footage:5,638 SF
Transaction Type:Loan
Located in Echo Park, the multifamily property at 1110-1112 1/2 Echo Park Ave. has recently undergone a closed transaction. This property spans approximately 5,638 square feet, making it an attractive investment in the Echo Park market.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,380,000
- Address: 1110-1112 1/2 Echo Park Ave.
- Market: Echo Park
- Lender: First Pacific Financial
- Landlord: Sandra Kobrin
- Brokers: Jim Gilb - Lee & Associates, Bobby Villanueva - ReMax Commercial, Joe Mercado & Grant Feitshans - First Pacific Financial
The loan for this transaction was provided by First Pacific Financial at a loan amount of $1,380,000. It was a purchase loan with a 3.15% interest rate. The loan terms include 5 years of interest-only payments, followed by a 30-year term.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,380,000.00
Monthly NOI$9,200.00
Monthly Debt Service$8,722.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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