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.
Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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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