Updated Sep 9, 2024
Marcus & Millichap Arranges $28.5M Refinance Loan For North Hollywood Multifamily Property
7401 Lankershim Boulevard, North Hollywood, California 91605, United States
$28,455,000
$299/SF
Building Size
95,122 SF
Asset Type
MultiFamily
Closing
Nov 9, 2021
About this deal
AI
Located at 7401 Lankershim Blvd. in North Hollywood, this multifamily property is a significant transaction in the real estate market. With a total size of approximately 95,122 square feet, the property consists of 108 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $28,455,000
- Loan Type: Refinance
- Loan Terms: 3.09% fixed for 10 years with 2 years interest only payments, 65% LTV
Juda Penini of Marcus & Millichap served as the broker in this deal. Representing the involved parties, Penini successfully facilitated the 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
0.56%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93