Updated Oct 29, 2024
Dwight Capital Refinances Multifamily Property In Monterey Park For $18.3M
234 N Rural Dr Monterey Park, CA 91755, USA
$18,342,700
$174/SF
Building Size
105,000 SF
Asset Type
MultiFamily
Closing
Jun 30, 2023
About this deal
AI
The property involved in this transaction is a multi-family asset located at 234 N. Rural Drive in Monterey Park. The property consists of 120 units and has a total of 105,000 square feet. The transaction took place on 06/30/2023.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $18,342,700
- Loan Type: Refinance
- Loan Terms: 35 Year Term
- Lender: Dwight Capital – Keith Hoffman & Jacob Gauptman
- Landlord: Chinese American Golden Age Association
The loan for this transaction was provided by Dwight Capital, with Keith Hoffman and Jacob Gauptman representing the lending company. The Chinese American Golden Age Association is the landlord of the property.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.86%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93