Updated Sep 24, 2026
Continental Partners Provides $3 Million Refinance For Richard Li's Seven Condo Units In West Los Angeles
$3,000,000
$359/SF
Building Size
8,349 SF
Asset Type
MultiFamily
Closing
Feb 27, 2025
About this deal
AI
The asset involved in the transaction is a multifamily property located in West Los Angeles, comprising seven units and covering a total area of 8,349 square feet. The loan amount associated with this property is $3,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,000,000
- Asset Size: 8,349 SF
- Units: 7
- Lender: Continental Partners
- Landlord: Richard Li
- Loan Type: Refinance
- Loan Terms: 5 years fixed at 5.80%, due in 10 years, amortized over 30 years
- Brokers: JM Grimaldi & Dave Brelian - Continental Partners
The deal was facilitated by brokers JM Grimaldi and Dave Brelian from Continental Partners, who successfully closed the financing, allowing for cash out above the existing balance while retiring previous construction debt that was due. The prepayment was structured with a flexible stepdown, enhancing financial flexibility for the landlord.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Dave Brelian to view all their deals.
Browse California multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.29%
Cash-on-Cash
-1.51%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93