Updated Dec 20, 2023
Matthews Real Estate Investment Services Arranges $13.3M Refinance Loan For Miracle Mile Multifamily Properties
865 Alandele Avenue, Los Angeles, California 90036, United States
$13,345,000
$300/SF
Building Size
44,376 SF
Asset Type
MultiFamily
Closing
Mar 3, 2022
About this deal
AI
The multifamily property located at 865-77 & 923 Alandele Avenue, 1055 S. Genesee Ave., 1104 S. Masselin Avenue, 1202 S. Cloverdale Ave., 1416 S. Hayworth Ave. & 2645 28th Street, encompassing a total of 44,376 square feet, has undergone a loan refinance transaction in the Miracle Mile, Mid-City, and Sunset Park markets. The property consists of 52 residential units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,345,000
- Loan Type: Refinance
- Loan Terms: 10 Year Fixed, 10 Years Interest-Only, 3.50% Interest Rate
- Loan Amount: $13,345,000
- Loan Terms: 10 Year Fixed, 10 Years Interest-Only, 3.50% Interest Rate, Non-recourse
- Loan Prepayment: Stepdown prepay
The loan refinance transaction was facilitated by Gregory Kavoklis of Matthews Real Estate Investment Services. He served as the broker representing the parties involved in the deal.
On the Map
$13,345,000
$300/SF
MultiFamily
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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
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93