Union Home Loan, Inc. Provides $795,000 Bridge Loan For Rehabilitation Of MultiFamily Property In Monterey
FINANCED
$795,000
California
See Similar DealsMultiFamily5,396 SF
Financed 09/08/2023
FINANCED
Union Home Loan, Inc. Provides $795,000 Bridge Loan For Rehabilitation Of MultiFamily Property In Monterey
309 Lighthouse Ave Monterey, CA 93940, USA
See Similar DealsMultiFamily5,396 SF
Financed 09/08/2023
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$147
Total Square Footage:5,396 SF
Transaction Type:Loan
The property involved in this transaction is a MultiFamily building located at 309 Lighthouse Avenue in Monterey. It consists of 11 units and has a total square footage of 5,396. The property is owned by Billie Elaine Pennisi.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $795,000
- Lender: Union Home Loan, Inc.
- Loan Type: Bridge Loan
- Loan Terms: 24 month term bridge loan for rehab
The lender in this transaction is Union Home Loan, Inc. They provided a bridge loan in the amount of $795,000. The loan has a term of 24 months and is intended for the purpose of rehabilitating the property.
The representative for the borrower in this deal is Jennifer Lopez from United Finance & Investments Inc.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$795,000.00
Monthly NOI$5,300.00
Monthly Debt Service$5,024.94
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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