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916 North Alvarado Street

Updated Dec 4, 2024

JLL Secures $5.5M Loan For Alvarado And Temple Apartments In Los Angeles
FINANCEDMultiFamily

JLL Secures $5.5M Loan For Alvarado And Temple Apartments In Los Angeles

916 North Alvarado Street & 2812 West Temple Street

$5,500,000

Units

66

Asset Type

MultiFamily

Closing

Feb 20, 2024

About this deal

AI

The multifamily property located at 916 North Alvarado Street and 2812 West Temple Street in Los Angeles consists of 66 units. JLL Capital Markets successfully secured a 15-year loan amounting to $5.5 million for Alvarado and Temple Apartments. The financing was provided by Peter Lillestolen of Freddie Mac in support of developing affordable housing for low-income and homeless residents, with a focus on offering comprehensive resident services.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $5,500,000
  • Address: 916 North Alvarado Street & 2812 West Temple Street
  • Market: Los Angeles
  • Lender: Peter Lillestolen - Freddie Mac
  • Landlord: William F. Pickel - Brilliant Corners
  • Broker: Anson Snyder - JLL

William F. Pickel serves as the landlord of the property, while Anson Snyder from JLL played a crucial role as the broker in the deal, ensuring the successful securing of the financing through Freddie Mac Multifamily. This transaction signifies a significant step towards expanding affordable housing options for marginalized communities within Los Angeles.

On the Map

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$5,500,000

MultiFamily

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Players

Anson Snyder

JLL

Broker

$48.9M

vol

5 deals

Broker
Freddie Mac
Freddie MacLender
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Los Angeles MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $83.3K per unit across 66 units on a published $5.5M (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.88%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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