Michael Warner Of PSRS Arranges $6.5M Refinance For Parking Lot In Gardena
$6,500,000
$55/SF
Building Size
117,250 SF
Asset Type
Parking Lot
Closing
Aug 19, 2025
AI
A cash-out refinance was arranged for a parking lot located at 14521 South Avalon Boulevard in Gardena, consisting of an area of 117,250 square feet. The refinance amounts to $6,500,000, aimed at generating liquidity for an irrevocable trust, reflecting a 55% loan-to-value ratio.
Summary of transaction details:
- Property Type: Parking Lot
- Transaction Amount: $6,500,000
- Loan Type: Refinance
- Loan Terms: Two-year interest-only
- Market: Gardena
- Asset Size: 117,250 SF
- Broker: Michael Warner - PSRS- Pacific Southwest Realty Services
The loan was provided by a bank to benefit third-generation beneficiaries of the trust. This transaction highlights the representation by Michael Warner and the involvement of PSRS in facilitating the refinancing deal.
Players
Market Parking Lot Market Snapshot
Boundary boundary · Parking Lot · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93