Updated Feb 16, 2024
Seth Ludwick Secures $22M Loan For Playa Del Rey Multifamily Property
Playa del Rey, California, United States
$22,000,000
Units
130
Asset Type
MultiFamily
Closing
Aug 14, 2022
About this deal
AI
Seth Ludwick has successfully secured a $22,000,000 loan for a multifamily property in Playa Del Rey, consisting of 130 units. The lender involved in this transaction is PSRS, and Seth Ludwick is the landlord of the property.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $22,000,000
- Number of Units: 130
- Market: Playa Del Rey
This loan transaction was facilitated by PSRS, acting as the lender for Seth Ludwick, the landlord of the property. In this deal, Seth Ludwick successfully obtained a loan amount of $22,000,000 to support this multifamily property in Playa Del Rey.
On the Map
$22,000,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93