MHKT LLC Acquires Multifamily Property In Pico Union, Los Angeles For $2.26M With Loan From Continental Partners

A multifamily property located at 1739 Magnolia Ave, Los Angeles, CA 90006 in the Pico Union market has recently closed a loan transaction. The loan amount of $2,255,500 was secured from Continental Partners. The loan terms were set at a fixed rate of 4.20% for a 7-year period, with a 30-year term and a stepdown prepayment option. The property spans a total of 9,314 square feet.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,255,500
• Loan Terms: 7 Year Fixed, 30 Year Term, 4.20%, Stepdown Prepay
• Address: 1739 Magnolia Ave, Los Angeles, CA 90006
• Market: Pico Union

The landlord of the property, identified as MHKT LLC, facilitated the loan transaction with the assistance of brokers Brian Asheghian and JM Grimaldi from Continental Partners.