facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

California

/

Multifamily

/

Loan

/

509 Douglas Street

Updated Sep 24, 2026

Continental Partners Provides $2.812M Bridge Loan For Multifamily Project In Los Angeles
FINANCEDMultiFamily

Continental Partners Provides $2.812M Bridge Loan For Multifamily Project In Los Angeles

509 Douglas Street & 513 Douglas Street

$2,812,000

$245/SF

Building Size

5,727 SF

Asset Type

MultiFamily

Closing

Mar 29, 2024

About this deal

AI

The multifamily property located at 509-513 Douglas Street in Los Angeles spans 5,727 square feet. The asset consists of 12 units and served as the focus of a recent transaction involving a bridge loan. The lender, Continental Partners, provided a loan amount of $2,812,000 to the landlord, Darryl White, for the completion of the property project.

Summary of transaction details:

The bridge loan was successfully secured by the Sponsor to aid in the completion of the 12-unit project near downtown Los Angeles. Furthermore, the loan, structured at 93% of the total project cost, aims to deliver more affordable housing units to the greater Los Angeles area. The additional funds accessible upon stabilization provide additional support for the project's success.

On the Map

Open live map

$2,812,000

$245/SF

MultiFamily

View full map

Players

JM Grimaldi

Grimaldi Capital, Inc.

Broker

$186M

vol

22 deals

Broker
Continental Partners
Continental PartnersLender
Bilt advertisement

Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Deal FAQ

About $245 per square foot on a published $2.8M for 11,454 square feet (2024).

Visit Dave Brelian to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.64%

Cash-on-Cash

-1.61%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets