Updated Dec 4, 2024
PSRS Arranges $1.4M Refinance Loan For Palm Street Apartments, San Luis Obispo
1334 Palm Street
$1,400,000
Units
11
Asset Type
MultiFamily
Closing
Apr 23, 2024
About this deal
AI
The Palm Street Apartments in San Luis Obispo have undergone a $1.4 million refinancing deal. The multifamily asset spans 0.33 acres and consists of 11 apartments with on-site parking.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Address: 1334 Palm Street
- Market: San Luis Obispo
- Loan Type: Refinance
- Loan Terms: 7 year
Jonny Soleimani and Thomas Rudinsky of PSRS- Pacific Southwest Realty Services played a key role in facilitating the seven-year loan totaling $1.4 million through a bank for the Palm Street Apartments in San Luis Obispo.
On the Map
$1,400,000
MultiFamily
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San Luis Obispo 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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93