Jon Stein Secures $5.775M Refinance Loan For Multifamily Properties In Los Angeles

The property asset involved in this transaction is a multifamily complex located at 3817 Gibraltar Avenue and 4077 West 23rd Street in the Los Angeles market, consisting of 30 units. A refinance loan was secured for the total amount of $5,775,000 with specific terms that include a 5-year fixed rate at 6.06%, 5 years of interest-only payments, and no prepayment penalty along with no loan to cost restriction.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,775,000
• Loan Type: Refinance
• Loan Terms: 5 Year Fixed, 5 Years IO, Rate of 6.06%, No Prepay Penalty, No Loan to Cost Restriction
• Landlord: Jon Stein
• Broker: Brian Asheghian - Convoy Capital

This transaction was facilitated by broker Brian Asheghian, representing Jon Stein, who is the landlord in this deal. The refinancing aims to support the financial structure of the multifamily property, enhancing its operational capabilities.