12 Units- Multifamily Property

Another Successfully Funded Loan

  • $1,380,000
  • 7 Year fixed @ 4.275%
  • Purchase-60% LTV
  • 12 Units- Multifamily Property Upland, Calif.

ASSIGNMENT:

Less 3 years prior we had financed a building for clients in Fontana. They didn’t like the area, but they ended up stabilizing that building and then selling which allowed them to get in on the purchase of this nice asset.

CHALLENGE

Sellers of the building had a few relatives that lived in the building and as such the rents of those tenants were lower than market which hurt us when underwriting for loan dollars.

SOLUTION:

Seller agreed to increase rents for the units that the relatives occupied. This increased our NOI and allowed us to get a bit more loan dollars. Our clients were very strong and had a good down payment from their down leg sale. We closed on time everything went smooth.

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ALB Commercial Capital

Office: (626) 296-7777
Toll-Free: (800) 510-2214 Fax: (626) 296-7771
Email: Info@albcommercialcapital.com

Headquarters

2476 Lake Ave Altadena,Ca. 91001

ABOUT US

We are industry experts dedicated to providing our clients the best loan programs, unparalleled service and certainty in execution
Cal BRE License #01379610
www.albcommercialcapital.com

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Adress:

Headquarters
2476 Lake Ave.
Altadena CA 91001 USA

Phone:

Office : (626) 296-7777
Fax : (626) 296-7771

CONTACT FORM

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