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905 South Vermont Avenue

Updated Sep 30, 2025

Ron Gonen Of EGC Real Estate Secures $21.5 Million Bridge Loan For Kanvas Apartments In Koreatown
FINANCEDMultiFamily

Ron Gonen Of EGC Real Estate Secures $21.5 Million Bridge Loan For Kanvas Apartments In Koreatown

905 South Vermont Avenue

$21,500,000

Units

67

Asset Type

MultiFamily

Closing

Sep 26, 2025

About this deal

AI

Kanvas Apartments is a 67-unit Class-A multifamily project located at 905 South Vermont Avenue in the Koreatown area of Los Angeles. The property has been refinanced with a bridge loan amounting to $21,500,000, which facilitates improved financing through a three-year, non-recourse structure. This loan provides two 12-month extensions and reduces previous borrowing costs significantly.

Summary of transaction details:

Talonvest Capital played a crucial role in this transaction by arranging the bridge loan to refinance the property on behalf of EGC Real Estate, represented by landlord Ron Gonen. The brokers involved provided extensive expertise and support throughout the loan arrangement process, ensuring favorable terms for the refinancing strategy.

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$21,500,000

MultiFamily

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Players

Ivan Viramontes

Talonvest Capital

Broker

$239.2M

vol

10 deals

Broker
Talonvest Capital
Talonvest CapitalBrokerage
Ron Gonen

Ron Gonen

EGC Real Estate

Landlord

$21.5M

vol

1 deal

Landlord
EGC Real Estate
EGC Real EstateLandlord
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Los Angeles MultiFamily Market Snapshot

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Deal FAQ

About $320.9K per unit across 67 units on a published $21.5M (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.74%

Cash-on-Cash

-0.21%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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