Updated Oct 29, 2024
Continental Partners Inc. Refinances Multifamily Property On Hazeltine Avenue In Sherman Oaks For $4.8M
5008 Hazeltine Avenue
$4,800,000
$246/SF
Building Size
19,510 SF
Asset Type
MultiFamily
Closing
Mar 29, 2023
About this deal
AI
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
Market 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
3.30%
Cash-on-Cash
-0.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93