Updated Mar 11, 2025
Castellan Capital Provides $1 Million Loan For Multifamily Property In Long Beach
328 West 8th Street, Long Beach, CA, USA
$1,000,000
$269/SF
Building Size
3,714 SF
Asset Type
MultiFamily
Closing
Dec 20, 2018
About this deal
AI
A cash-out refinancing deal closed in just five days for a multifamily property located at 328 W. 8th Street in Long Beach. The property consists of eight units and was the subject of the transaction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 328 W. 8th Street
- Market: Long Beach
- Lender: Castellan Capital
- Brokerage: Marcus & Millichap
- Broker: Thebalysgroup
The lender for this deal was Castellan Capital, and it was brokered by Marcus & Millichap, represented by Thebalysgroup.
Players
Long Beach 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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93