Updated May 12, 2025
Continental Partners Inc. Provides $4.2M Loan For Culver City Multifamily Property
3743 Midvale Avenue, Los Angeles, CA, USA
$4,200,000
$1,697/SF
Building Size
2,474 SF
Asset Type
MultiFamily
Closing
Oct 30, 2019
About this deal
AI
The transaction involved a refinance of a brand new 14-unit multifamily asset located at 3743 Midvale Ave in Culver City. The property is owned by 3743 Midvale Associates LP. The loan was facilitated by Continental Partners Inc., with Brian Asheghian serving as the broker representative. Summary of transaction details: Property Type: Multifamily Transaction Amount: $4,200,000 Lender: Continental Partners Inc. Landlord: 3743 Midvale Associates LP Broker: Brian Asheghian - Continental Partners Inc. The loan was for a 7-year fixed term with 5 years of interest-only payments. The interest rate was set at 3.12%, and the loan was non-recourse. The transaction was funded at stabilization.
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
3.78%
Cash-on-Cash
-1.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93