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Alex Walsh Of Convoy Capital Secures $3.77M Loan For 20-Unit Multifamily Acquisition In Santa Monica

Property Image
FINANCED
$3,770,000

California

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MultiFamily14,544 SF
Financed 10/09/2024
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Property Image
FINANCED

Alex Walsh Of Convoy Capital Secures $3.77M Loan For 20-Unit Multifamily Acquisition In Santa Monica

937 2nd Street

See Similar Deals
MultiFamily14,544 SF
Financed 10/09/2024
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$259
Total Square Footage:14,544 SF
Transaction Type:Loan

A 20-unit multifamily property located at 937-943 2nd Street in Santa Monica, encompassing two identical 10-unit buildings with a total size of 14,544 square feet on 0.34 acres, has been involved in a recent acquisition. The acquisition was financed through a loan amount of $3,770,000 with a 10-year term.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $3,770,000
  • Loan Type: Acquisition
  • Units: 20
  • Square Footage: 14,544
  • Address: 937-943 2nd Street
  • Market: Santa Monica
  • Acres: 0.34
  • Broker: Alex Walsh - Convoy Capital

Alex Walsh of Convoy Capitalfacilitated the acquisition of this multifamily property, contributing expertise in the market to secure the financing for the transaction. The broker's role underscores the importance of professional representation in real estate dealings.

Players

Alex Walsh
Convoy Capital
Alex Walsh
2 deals$7.5M volume(310) 612-4853
BROKER

Details

FINANCED
IMAGE: Alex Walsh DATE: 10/09/2024 ADDRESS: 937-943 2nd Street MARKET: Santa Monica ASSET TYPE: Multifamily ~ UNITS: 20 ~ SF: 14,544 ~ ACRES: 0.34 BROKER: Alex Walsh (@AlexWalshh) - Convoy Capital (@Convoy_Capital) LOAN AMOUNT: $3,770,000 LOAN TYPE: Acquisition LOAN TERMS: 10 year NOTE: Convoy Capital's Alex Walsh facilitated the acquisition of a 20-unit multifamily property at 937-943 2nd Street, Santa Monica, comprising two identical 10-unit buildings on 0.34 acres, totaling 14,544 square feet. The property was financed with a $3,770,000 acquisition loan on a 10-year term.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$3,770,000.00

Monthly NOI$25,133.33
Monthly Debt Service$23,828.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00