Ridge Capital Group Helps Mitra Avari Secure $1.75M Cash Out Refinance Loan On Beverly Hills SFR
454 S Palm Dr Beverly Hills, CA 90212, USA
$1,750,000
$607/SF
Building Size
2,883 SF
Asset Type
MultiFamily
Closing
May 12, 2023
AI
The property involved in this transaction is a single-family residence located at 454 South Palm Drive in Beverly Hills. The property has a total square footage of 2,883.
Summary of transaction details:
- Property Type: Single-Family Residence
- Transaction Amount: $1,750,000
- Market: Beverly Hills
- Lender: United Wholesale Mortgage
- Landlord: Mitra Avari
- Broker: Neema J. Omid - Ridge Capital Group
- Loan Type: Refinance
- Loan Terms: 15 Years Fixed Rate - 70% LTV Cash Out
Neema J. Omid, representing Ridge Capital Group, was able to obtain a cash out refinance on a 15-year term for his clients, reducing the borrower's term by 8 years. The transaction was closed in less than 30 days. Neema, a mortgage loan officer, has funded over $30 million in loan volume over a short period of time. For further information and assistance, please contact Neema directly at 818-935-7089 or [email protected].
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
9.06%
Cash-on-Cash
-2.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93