Noah Harris Secures $16.88M Construction Loan For Multifamily Property In Eagle Rock
4800 Onteora Pl, Eagle Rock, CA 90041
$16,880,000
$106/SF
Building Size
158,890 SF
Asset Type
MultiFamily
Closing
Mar 2, 2022
AI
Located at 4800 Onteora Way in the Eagle Rock market, this property is a multifamily asset with a total square footage of 158,890. The property consists of 14 units, offering ample residential space for tenants.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16,880,000
- Loan Type: Construction Loan
- Loan Terms: 85% LTC
Noah Harris is the landlord of this property. The broker for this transaction is Frankie Paparella from Tauro Capital Advisors. Paparella played a crucial role in securing a high leverage senior construction loan with a loan-to-cost ratio of 85%. The lender granting the loan is able to provide quick closing and has the option to leverage further with PACE financing. For inquiries regarding financing, contact Frankie Paparella at [email protected].
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
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93