13 Units- Multifamily Property

Another Successful Funded Loan

  • $1,855,000
  • 5 Year fixed @ 3.95%
  • Cash Out Refinance-66% LTV
  • 13 Units- Multifamily Property Long Beach, Calif.

ASSIGNMENT:

This was a purchase transaction for one of our biggest clients. We have handled over 100 million in loans for them. Client was finishing up using some left over funds from one of their down leg exchanges.

CHALLENGE

The subject property was way low on rents and as a result was requiring huge down payment more than what our client wanted to use. The client had already exhausted his 45 day identification period and they had to close on this or suffer big capital gains in taxes.

SOLUTION:

Seller was willing to cooperate with the buyer and rents were increased while in escrow. Seller did not want to lose tenants, so rents were increased conservatively, however the rent increase allowed us to achieve an LTV that worked for our borrower and the loan was closed.

Contact form:

How Can We Help You ?

Complete this contact form for any general inquiries
And we’ll get right back to you

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

GET IN TOUCH

Adress:

Headquarters
2476 Lake Ave.
Altadena CA 91001 USA

Phone:

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

CONTACT FORM

Copyright© 2018. All Rights Reserved. ALB Commercial Capital

Close Menu