Updated Oct 29, 2024
Janone Development Secures $16.6M Construction Loan For Multifamily Property On S. Hobart Blvd
1100 South Hobart Boulevard, Los Angeles, CA, USA
$16,600,000
$286/SF
Building Size
57,964 SF
Asset Type
MultiFamily
Closing
Nov 19, 2020
About this deal
AI
The multifamily property located at 1100-1110 S. Hobart Blvd in Los Angeles has been involved in a recent transaction. The property spans 0.43 acres and has a building square footage (BSF) of 57,964. The transaction involved a construction loan amounting to $16,600,000. The lender of the loan was Pakview Financial, represented by Paul Rahimian. The landlord in this transaction was Janone Development.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,600,000
- Lot Size: 0.43 Acres
- BSF: 57,964
Pakview Financial, under the representation of Paul Rahimian, provided the construction loan for the property. Janone Development acted as the landlord in this transaction.
On the Map
$16,600,000
$286/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93