Updated Mar 11, 2025
Continental Partners Provides $3.5M Acquisition Loan For Multifamily Property In Glendale
600 East Garfield Avenue
$3,493,000
$209/SF
Building Size
16,682 SF
Asset Type
MultiFamily
Closing
Dec 5, 2023
About this deal
AI
The multifamily property located at 600 East Garfield Avenue in Glendale has been involved in a closed transaction. The property consists of 24 units with a total area of 16,682 square feet. The transaction details are as follows:
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,493,000
- Market: Glendale
The lender for this transaction was Continental Partners Inc. The loan amount provided was $3,493,000 and it was an acquisition loan. The loan terms include financing 65% of the purchase price for 5 years at an interest rate of 6.31%. The loan also has one year of interest-only payments, stepdown prepayment, and is non-recourse.
The broker involved in this deal was Brian Asheghian from Continental Partners. He represented the buyer in acquiring the multifamily property located at 600 East Garfield Avenue in Glendale, California.
Players
Glendale 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
4.54%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93