Updated Mar 11, 2025
Continental Partners Provides $4.4M Loan For Multifamily Properties In Beverly Hills & Palms
408 North Palm Drive, Beverly Hills, CA 90210, USA
$4,385,000
$1,328/SF
Building Size
3,300 SF
Asset Type
MultiFamily
Closing
Aug 25, 2020
About this deal
AI
An apartment building located at 408 N Palm Dr in Beverly Hills and 3420 Vinton Ave in Palms has been involved in a recent loan transaction. The multifamily property is situated in a prime location, offering residents easy access to amenities and services in both Beverly Hills and Palms markets.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $4,385,000
- Loan Terms: 10 Year Fixed, 30 Year Term, 3.35% Interest Rate and Stepdown Prepay (Open Last 5 Years)
- Lender: Continental Partners
- Broker: Brian Asheghian
Brian Asheghian, a representative from Continental Partners, facilitated the loan transaction for this multifamily property. The loan amount secured for the property was $4,385,000, with favorable terms including a 10-year fixed rate, 30-year term, and an interest rate of 3.35%. Additionally, the loan allows for stepdown prepayment, which remains open for the last 5 years of the loan term.
Players
Beverly Hills 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
3.62%
Cash-on-Cash
-1.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93