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2481 Summitridge Drive

AD Mortgage LLC Provides $7M Refinance Loan For Beverly Hills SFR On Summitridge Dr
FINANCEDSingle Family Residence

AD Mortgage LLC Provides $7M Refinance Loan For Beverly Hills SFR On Summitridge Dr

2481 Summitridge Drive

$7,000,000

$933/SF

Building Size

7,500 SF

Asset Type

Single Family Residence

Closing

Jul 22, 2022

AI

A single-family residence located at 2481 Summitridge Dr. in the Beverly Hills market has recently undergone a loan transaction. Spanning across 7,500 square feet, this property showcases a picturesque and inviting exterior. The loan, facilitated by AD Mortgage LLC, was brokered by Merica Mackey from Mac Mortgage Inc.

Summary of transaction details

  • Property Type: Single-Family Residence (SFR)
  • Transaction Amount: $7,000,000
  • Loan Type: Refinance
  • Loan Terms: 12 months bank statement loan

This transaction involved key individuals and companies, namely Merica Mackey from Mac Mortgage Inc., who represented the borrower throughout the process. The loan, amounting to $7,000,000, was secured to refinance the property. Notably, the loan terms included a 12-month bank statement loan, providing flexibility and convenience for the borrower.

Players

Merica Mackey

Broker

$1.8M

vol

3 deals

Broker
AD Mortgage
AD MortgageLender

Los Angeles Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.27%

Cash-on-Cash

-0.65%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93