Updated Mar 11, 2025
Continental Partners Provides $5.2M Cash Out Refinance Loan For MacArthur Park Multifamily Property
511 S Carondelet St, MacArthur Park, Los Angeles, CA, USA
$5,215,000
$200/SF
Building Size
26,000 SF
Asset Type
MultiFamily
Closing
Jul 15, 2021
About this deal
AI
A multifamily property located at 511 S. Carondelet St. in MacArthur Park has recently undergone a closed transaction. The property, captured in an image by Brian Asheghian, was the subject of a loan deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 07/16/2021
- Address: 511 S. Carondelet St.
- Market: MacArthur Park
The loan for this property was provided by Continental Partners. The loan amount for the cash-out refinance was $5,215,000. The loan terms include a fixed rate of 3.20% for 5 years at a loan-to-value (LTV) ratio of 70%. It is worth noting that the loan is non-recourse and features a stepdown prepayment structure.
Brian Asheghian, representing Continental Partners, acted as the broker in this transaction.
Players
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
3.04%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93