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Continental Partners Inc Provides $4.2M Acquisition Loan For Multifamily Property In Valley Village

Property Image
FINANCED
$4,200,000
Brian Asheghian
NS

California

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MultiFamily23,973 SF
Financed 12/26/2023
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Property Image
FINANCED

Continental Partners Inc Provides $4.2M Acquisition Loan For Multifamily Property In Valley Village

12015 Kling Street

See Similar Deals
MultiFamily23,973 SF
Financed 12/26/2023
Brian Asheghian
NS
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$175
Total Square Footage:23,973 SF
Transaction Type:Loan

The multifamily property located at 12015 Kling Street in Valley Village has been involved in a closed transaction. The property consists of 24 units and spans a total of 23,973 square feet. The transaction details include an acquisition loan provided by Continental Partners Inc for a loan amount of $4,200,000. The loan is of the type "Acquisition Loan" and has a fixed term of 5 years at an interest rate of 6.25%. It includes a stepdown prepayment feature and offers only 50% recourse.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,200,000
  • Address: 12015 Kling Street, Valley Village
  • Units: 24
  • Square Footage: 23,973

Brian Asheghian from Continental Partners represented both the buyer and the seller, Nathan Stein, in this transaction.

Players

Brian Asheghian
Convoy Capital
Brian Asheghian
55 deals$389.7M volume(310) 922-1068
BROKER
NS
Nathan Stein
3 deals$16.1M volume
LANDLORD

Details

FINANCED
IMAGE: Brian Asheghian DATE: 12/26/2023 ADDRESS: 12015 Kling Street MARKET: Valley Village ASSET TYPE: Multifamily ~ UNITS: 24 ~ SF: 23,973 LENDER: Continental Partners Inc (@ContiPartners) LANDLORD: Nathan Stein BROKERS: Brian Asheghian (@BAsheghian) - Continental Partners LOAN AMOUNT: $4,200,000 LOAN TYPE: Acquisition Loan LOAN TERMS: 5 Year Fixed at 6.25% with Stepdown Prepay and only 50% Recourse

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,200,000.00

Monthly NOI$28,000.00
Monthly Debt Service$26,546.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00