Updated Oct 28, 2024
Banc Of California Provides $2.75M Loan For Multifamily Property On S. Western Ave
2244 S Western Ave, Los Angeles, CA, USA
$2,755,000
$206/SF
Building Size
13,362 SF
Asset Type
MultiFamily
Closing
Aug 12, 2021
About this deal
AI
The multifamily property located at 2244 S. Western Ave. in Los Angeles has recently closed a loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,755,000
The loan for this property was provided by Banc Of California. The brokers involved in this transaction were Eric Gleitman and Zach Thurm from Mercury Capital Markets.
The multifamily loan at 2244 S Western Ave, Los Angeles, CA, USA in Los Angeles, California financed for $2.8M in 2021. The building is 13,362 square feet, implying about 206 per square foot on the published price. Eric Gleitman, Zach Thurm, Mercury Capital Markets appear on the loan alongside Mercury Capital Markets. This page is the Los Angeles, California file for the 2244 S Western Ave, Los Angeles, CA, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Los Angeles sit in the Market section below. Filter that Los Angeles multifamily set by closing date to see what else financed near 2244 S Western Ave, Los Angeles, CA, USA around 2021. Published consideration for 2244 S Western Ave, Los Angeles, CA, USA is $2.8M, dated 2021. Cite this Banc Of California Provides $2.75M Loan For Multifamily Property On S. Western Ave loan when underwriting similar multifamily product around Los Angeles, California.
On the Map
$2,755,000
$206/SF
MultiFamily
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Players
Los Angeles 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
5.76%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93