Updated Sep 5, 2024
Meridian Capital Group Arranges $4M Refinance Loan For Koreatown Multifamily
3207 West Third Street
$4,000,000
$4,000,000/SF
Building Size
1 SF
Asset Type
Special Purpose
Closing
Aug 31, 2022
About this deal
AI
The recently closed transaction in the Koreatown neighborhood of Los Angeles involved the refinancing of a multifamily property located at 3207 W. 3rd St. The loan amount for this transaction was $4,000,000, and it was secured through a refinance loan. The loan terms were set at 10 years fixed, with an interest rate of 3.99%. Notably, at the time of close, the 10 Year UST was 3.26%, resulting in an effective spread of 0.73%.
Summary of transaction details
- Property Type: Multifamily
- Loan Amount: $4,000,000
- Loan Type: Refinance
- Loan Terms: 10 Years Fixed at 3.99%
The brokers involved in this transaction were David Oheb and Max Jacobson from Meridian Capital Group. For further information or inquiries on how Meridian can add value to your portfolio, please contact Max Jacobson at 818-590-6809 or [email protected].
Players
Los Angeles Special Purpose Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.97%
Cash-on-Cash
-1.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93