Noah Harris Secures $16.88M Construction Loan For Multifamily Property In Eagle Rock
FINANCED
$16,880,000
California
See Similar DealsMultiFamily158,890 SF
Financed 03/03/2022
FINANCED
Noah Harris Secures $16.88M Construction Loan For Multifamily Property In Eagle Rock
4800 Onteora Pl, Eagle Rock, CA 90041
See Similar DealsMultiFamily158,890 SF
Financed 03/03/2022
Summary
CALIFORNIA
Asset Type:MultiFamily
Price Per Square Foot:$106
Total Square Footage:158,890 SF
Transaction Type:Loan
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].
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$16,880,000.00
Monthly NOI$112,533.33
Monthly Debt Service$106,693.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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