Updated May 12, 2025
Ethan Moradifar & Rodd Rahnama Provide $2M Loan For Lorenzo Semple's Acquisition In Los Angeles
973 Wellesley Avenue
$2,000,000
$1,000/SF
Building Size
2,000 SF
Asset Type
Single Family Residence
Closing
Dec 30, 2024
About this deal
AI
The asset involved in the transaction is a single-family home located at 973 Wellesley Avenue in the Los Angeles market. The property has a total square footage of 2,000 and was acquired through a loan amounting to $2,000,000 under a 30-year fixed loan type.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $2,000,000
- Loan Type: Acquisition
- Loan Terms: 30 Year Fixed
- Lender: Ethan Moradifar & Rodd Rahnama - Ridge Capital Group
- Landlord: Lorenzo Semple
Ethan Moradifar and Rodd Rahnama from Ridge Capital Group facilitated the buyer's acquisition of the property, achieving this in under 20 calendar days. The buyer's qualification process utilized only a profit and loss statement, without requiring tax returns or transcripts.
On the Map
$2,000,000
$1,000/SF
Single Family Residence
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Los Angeles Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93