Henry Fan Secures $6,585,000 Refinance Loan For 20-Unit Multifamily Asset In Los Angeles

The property asset involved in this transaction is a multifamily building located at 4002 Montclair Street in Los Angeles. The asset consists of 20 units and has a total square footage of 22,155. The loan amount secured for this property is $6,585,000, with a refinance type of loan offering terms of 3 years fixed and 3 years of interest-only payments at a rate of 5.65%. The loan also includes a stepdown prepayment feature.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,585,000
• Units: 20
• Square Footage: 22,155
• Address: 4002 Montclair Street
• Market: Los Angeles
• Landlord: Henry Fan
• Broker: Brian Asheghian - Convoy Capital
• Loan Type: Refinance
• Loan Terms: 3 Year Fixed, 3 Years of Interest Only at 5.65% with Stepdown Prepay

In this transaction, the key individuals include Henry Fan, who serves as the landlord, and Brian Asheghian from Convoy Capital, who acts as the broker representing the transaction. This refinancing deal highlights the collaboration between the landlord and broker in securing the necessary funding for the multifamily asset.