Marcus & Millichap Secures $2M Loan For Burbank Multifamily Property
FINANCED
$2,000,000
California
See Similar DealsMultiFamily10,480 SF
Financed 03/31/2020
FINANCED
Marcus & Millichap Secures $2M Loan For Burbank Multifamily Property
606 East Santa Anita Avenue, Burbank, CA 91501, USA
See Similar DealsMultiFamily10,480 SF
Financed 03/31/2020
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$190
Total Square Footage:10,480 SF
Transaction Type:Loan
A multifamily property located at 606 E Santa Anita Ave in Burbank was involved in a recent closed transaction. The property spans 10,480 square feet and consists of 9 units. The transaction took place on 03/31/2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Market: Burbank
- Lender: Marcus & Millichap
- Broker: Sharone Sabar
- Loan Terms: 3.25% Leverage - 63% Term - 10 years
The loan for this transaction was provided by Marcus & Millichap. The loan amount was $2,000,000 and the terms of the loan included a 3.25% interest rate, 63% leverage, and a term of 10 years. Sharone Sabar, from Marcus & Millichap, represented the buyer in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,000,000.00
Monthly NOI$13,333.33
Monthly Debt Service$12,641.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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