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Continental Partners Inc. Refinances Multifamily Property On Hazeltine Avenue In Sherman Oaks For $4.8M

Property Image
FINANCED
$4,800,000

California

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MultiFamily19,510 SF
Financed 03/29/2023
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Property Image
FINANCED

Continental Partners Inc. Refinances Multifamily Property On Hazeltine Avenue In Sherman Oaks For $4.8M

5008 Hazeltine Avenue

See Similar Deals
MultiFamily19,510 SF
Financed 03/29/2023
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$246
Total Square Footage:19,510 SF
Transaction Type:Loan

An 18-unit multifamily property located at 5008 Hazeltine Avenue in Sherman Oaks has recently undergone a loan refinancing transaction. The property spans 19,510 square feet and is situated in a desirable market.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $4,800,000
  • Loan Type: Refinance
  • Loan Terms: 5 Year Fixed at 5.375% with 1 Year of IO and Non-Recourse with a 3,2,1% Prepay

Continental Partners Inc. served as the lender in this transaction. Brian Asheghian of Continental Partners represented the borrower as the broker. The loan amount secured for this refinancing deal was $4,800,000, providing the borrower with favorable terms, including a 5-year fixed interest rate of 5.375% and 1 year of interest-only payments. The loan is non-recourse and features a prepayment penalty schedule of 3%, 2%, and 1%.

Players

Brian Asheghian
Convoy Capital
Brian Asheghian
55 deals$389.7M volume(310) 922-1068
BROKER
CI
Continental Partners Inc.
LENDER

Details

FINANCED
IMAGE: Brian Asheghian DATE: 03/29/2023 ADDRESS: 5008 Hazeltine Avenue MARKET: Sherman Oaks ASSET TYPE: Multifamily ~ UNITS: 18 ~ SF: 19,510 LENDER: Continental Partners Inc. BROKER: Brian Asheghian (@Basheghian) - Continental Partners (@ContinentalPartners) LOAN AMOUNT: $4,800,000 LOAN TYPE: Refinance LOAN TERMS: 5 Year Fixed at 5.375% with 1 Year of IO and Non-Recourse with a 3,2,1% Prepay

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$4,800,000.00

Monthly NOI$32,000.00
Monthly Debt Service$30,339.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00