Updated Dec 4, 2024
Marcus & Millichap Capital Corporation Secures $5.2 Million Loan For Palmer Villas Multifamily In Glendale
817 East Palmer Avenue
$5,200,000
Units
18
Asset Type
MultiFamily
Closing
Sep 5, 2024
About this deal
AI
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
Glendale MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Dan Litman to view all their deals.
Browse Glendale multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93