Velocity Mortgage Provides $1.9M Acquisition Loan For Harbor City Multifamily Property

A multifamily property located at 1634 260th St. in Harbor City has been recently involved in a closed transaction. The property has a total square footage of 8,800 and consists of 13 units.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $1,912,500
• Market: Harbor City
• Lender: Velocity Mortgage
• Loan Type: Acquisition
• Loan Terms: 5.99% interest rate, 75% loan-to-value ratio, 1 year prepayment, 19-day closing, zero point to lender

The loan was provided by Velocity Mortgage and amounted to $1,912,500. It was an acquisition loan with terms including a 5.99% interest rate, 75% loan-to-value ratio, 1 year prepayment option, and a 19-day closing period. The lender, Velocity Mortgage, played a crucial role in facilitating the deal.

It is worth noting that Nicole Gozini, a direct private lender for various asset classes on a national scale, was involved in this transaction. Nicole was able to originate and fund the loan within a remarkable 19-day timeframe, enabling the client to meet their year-end purchase deadline. For more information, interested parties can contact Nicole at (310) 295-7177.