Updated Oct 29, 2024
MWest Holdings Secures $22.8M Freddie Mac Loan For 89-Unit San Pedro Multifamily Property
407 W 7th St, San Pedro, CA 90731, USA
$22,767,000
$176/SF
Building Size
128,758 SF
Asset Type
MultiFamily
Closing
Apr 21, 2020
About this deal
AI
The multifamily property located at 407 W 7th St in San Pedro has recently been involved in a closed transaction. The property spans a total of 128,758 square feet and consists of 89 units. The deal was facilitated by Karl Slovin, Sam Kuiumdjian, and Matthew Ellis.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,767,000
- Lender: Freddie Mac
- Landlord: MWest Holdings
- Loan Terms: 3.34% - 10 Year - 5 Year IO
Freddie Mac served as the lender for this transaction, providing a loan amount of $22,767,000. MWest Holdings is the landlord of the property. The loan terms for this deal include a fixed interest rate of 3.34% for a period of 10 years, with the first 5 years being interest-only payments.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93