Marcus & Millichap Capital Arranges $4.75M Loan For La Crescenta, LLC's Acquisition Of National City Multifamily Property

Marcus & Millichap Capital Corporation has arranged $4,750,000 in financing for La Crescenta, LLC to acquire a recently built 19-unit multifamily property located at 611 Highland Avenue in National City, California. The property consists of one- and two-bedroom loft apartments and boasts favorable terms, including a 5-year fixed interest rate of 6.5%, a 15-year term, a 3-year interest-only period, a 30-year amortization schedule, and a loan-to-value ratio of 60%.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $4,750,000
• Units: 19
• Address: 611 Highland Avenue
• Market: National City

The financing for this acquisition was secured through Marcus & Millichap Capital Corporation. The brokers involved in the deal were Chad O'Connor and Tom McCartin, representing Marcus & Millichap Capital Corporation. Their expertise and assistance were instrumental in facilitating this loan for La Crescenta, LLC.