FINANCEDMultiFamily
El Palacio Weho Secures $6.95M Loan For West Hollywood Multifamily Property
8491 Fountain Ave, West Hollywood, CA, USA
$6,950,000
Building Size
—
Asset Type
MultiFamily
Closing
Jun 16, 2020
AI
The multifamily property located at 8491-8499 Fountain Ave. in West Hollywood has been involved in a recent transaction. The loan amount of $6,950,000 was provided by Continental Partners. The property is owned by El Palacio Weho.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,950,000
- Address: 8491-8499 Fountain Ave.
- Market: West Hollywood
Chase Calderon of Continental Partners represented El Palacio Weho in the deal.
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
2.28%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93