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Marcus & Millichap Capital Corporation Secures $5.2 Million Loan For Palmer Villas Multifamily In Glendale

Property Image
FINANCED
$5,200,000

California

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MultiFamily
Financed 09/05/2024
the dealplayerscompscontact
Property Image
FINANCED

Marcus & Millichap Capital Corporation Secures $5.2 Million Loan For Palmer Villas Multifamily In Glendale

817 East Palmer Avenue

See Similar Deals
MultiFamily
Financed 09/05/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in the transaction is Palmer Villas, a multifamily asset located at 817 East Palmer Avenue in Glendale, California. The property consists of 18 units and is situated approximately 7 miles from Downtown Los Angeles. The refinancing amounts to $5,200,000, which includes a structured loan with a 30-year term and 30-year amortization, applying a loan-to-value ratio of 50%.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,200,000
  • Address: 817 East Palmer Avenue
  • Market: Glendale
  • Units: 18
  • Loan Terms: 30-year term with 30-years amortization
  • Loan-to-Value: 50%

Dan Litman from Marcus & Millichap Capital Corporation was responsible for securing the refinancing for the property. The transaction emphasizes the role of the brokerage in arranging financial solutions for multifamily investments within the market.

Players

Dan Litman
Marcus & Millichap
Dan Litman
4 deals$31.6M volume(310) 909-2319
BROKER

Details

FINANCED
IMAGE: Dan Litman DATE: 09/05/2024 ADDRESS: 817 East Palmer Avenue MARKET: Glendale ASSET TYPE: Multifamily ~ UNITS: 18 BROKER: Dan Litman - Marcus & Millichap Capital Corporation (@MMCapCorp) LOAN AMOUNT: $5,200,000 LOAN TERMS: 30-year term with 30-years amortization and a 50% loan-to-value NOTE: Marcus & Millichap Capital Corporation arranged a $5.2 million refinancing for Palmer Villas, a multifamily property in Glendale, California. The loan, secured by Dan Litman, includes a 30-year term with 50% loan-to-value for the 18-unit complex located 7 miles from Downtown Los Angeles.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$5,200,000.00

Monthly NOI$34,666.67
Monthly Debt Service$32,867.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00