Updated Dec 4, 2024
Marcus & Millichap Arranges $5M Refinance For Larson Apartments In Garden Grove
8101 Larson Avenue
$5,000,000
Units
21
Asset Type
MultiFamily
Closing
Mar 22, 2024
About this deal
AI
The property at 8101 Larson Avenue in Garden Grove is a Multifamily asset consisting of 21 units. The recent transaction involved a refinancing loan amounting to $5,000,000. The loan terms include a 30-year period, a 65% loan-to-value ratio, a 6.30% interest rate, and a 30-year amortization schedule.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Address: 8101 Larson Avenue
- Market: Garden Grove
- Loan Type: Refinance
- Loan Terms: 30-year loan with 65% loan-to-value ratio, 6.30% interest rate, and 30-year amortization
Ron Balys from Marcus & Millichap played a crucial role in securing the $5 million refinancing for Larson Apartments in Garden Grove. This transaction supported the client's business plan that was initially established with MMCC's acquisition financing in 2022.
On the Map
$5,000,000
MultiFamily
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Players
Garden Grove 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93