Pacific Western Bank Provides $64.4M Construction Loan For Monrovia Multifamily Property
127 West Pomona Avenue, Monrovia, California 91016, United States
$64,390,000
$255/SF
Building Size
252,100 SF
Asset Type
MultiFamily
Closing
Apr 4, 2022
AI
A construction loan has been secured for a multifamily property located at 127 W. Pomona Ave. in Monrovia. The property spans over 252,100 square feet and contains 220 units.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $64,390,000
- Address: 127 W. Pomona Ave.
- Market: Monrovia
- Square Footage: 252,100
- Units: 220
The construction loan, amounting to $64,390,000, has been provided by Pacific Western Bank. The transaction was facilitated by brokers Stefen Chraghchian and Sharone Sabar from Marcus & Millichap Capital Corporation.
Players
Monrovia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93