Updated Dec 4, 2024
HouseAmerica Financial Provides $6.2M Bridge Loan For Pacific Palisades Single Family Property
1026 Corsica Drive
$6,233,000
$794/SF
Building Size
7,848 SF
Asset Type
Single Family
Closing
Nov 16, 2023
About this deal
AI
The property located at 1026 Corsica Drive in Pacific Palisades has been involved in a closed transaction. This single-family property spans 7,848 square feet and was recently subjected to a bridge loan.
Summary of transaction details:
- Property Type: Single Family
- Transaction Amount: $6,233,000
- Lender: Fredrik Megerdichian - HouseAmerica Financial
- Loan Type: Bridge Loan
Fredrik Megerdichian from HouseAmerica Financial served as the lender for this transaction. The bridge loan, amounting to $6,233,000, facilitated the property acquisition or refinancing process. This transaction showcases the involvement of key individuals and companies, contributing to the successful completion of the deal.
Players
Pacific Palisades Single Family Market Snapshot
Boundary boundary · Single Family · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.55%
Cash-on-Cash
-0.73%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93