Updated Oct 29, 2024
Affordable Housing Solutions Provides $3.1M Bridge Loan For Special Purpose Property On W 85th Street
3320 West 85th Street, Inglewood, California 90305, United States
$3,100,000
$124,000/SF
Building Size
25 SF
Asset Type
Special Purpose
Closing
Nov 11, 2022
About this deal
AI
Located at 3320 W 85th Street in Inglewood, CA, this special purpose property spans over 25,000 square feet. The property recently closed in a transaction on 11/11/2022.
Summary of transaction details
- Property Type: Special Purpose
- Transaction Amount: $3,100,000
- Market: Inglewood, CA
- Lender: Affordable Housing Solutions
- Landlord: Faith Lutheran Church
- Broker: Steve Richardson - AGENCY
The loan for this transaction amounted to $3,100,000 and was classified as a bridge loan. Affordable Housing Solutions served as the lender, while Faith Lutheran Church acted as the landlord. Representing the deal was Steve Richardson from AGENCY.
Players
Inglewood Special Purpose Market Snapshot
Boundary boundary · Special Purpose · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.12%
Cash-on-Cash
-1.46%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93