Updated Oct 28, 2024
Aashish Desai Of Desai Law Firm PC Acquires SFR In Los Angeles For $14.1M
9410 Sierra Mar Place, Los Angeles, California 90069, United States
$12,600,000
$1,745/SF
Building Size
7,217 SF
Asset Type
Single Family Residence
Closing
Dec 22, 2021
About this deal
AI
An acquisition loan was secured for the property located at 9410 Sierra Mar Place in Los Angeles. The single-family residence (SFR) spans across 7,217 square feet. The loan was facilitated by Convoy Home Loans, with Dustin Rosenberg representing the lender. The buyer, Aashish Desai, was represented by Desai Law Firm PC. The seller was CFPM-CA-1- LLC, represented by David Chiddix and Lori Pica. The loan amount for this transaction was $12,600,000, with interest-only and asset-based loan terms. The sale price for the property was $14,100,000.
Summary of transation details
- Property Type: SFR
- Transaction Amount: $12,600,000
- Lender: Convoy Home Loans - Dustin Rosenberg
- Buyer: Aashish Desai - Desai Law Firm PC
- Seller: David Chiddix & Lori Pica - CFPM-CA-1- LLC
- Loan Terms: Interest Only, Asset Based
- Sale Price: $14,100,000
This transaction involved an acquisition loan facilitated by Convoy Home Loans. The loan's terms were interest-only and asset-based. Aashish Desai, represented by Desai Law Firm PC, acquired the property located at 9410 Sierra Mar Place from David Chiddix and Lori Pica, who were represented by CFPM-CA-1- LLC. Creative luxury financing was utilized for this transaction. For more information, interested parties can contact [email protected].
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.26%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93