5 Units- Multifamily Property

Another Successfully Funded Loan

  • $1,040,000
  • 7 Year fixed @ 5.120%
  • Cash Out Refinance-56% LTV
  • 5 Units- Multifamily Property Alhambra, Calif.

ASSIGNMENT:

This was a past client whom we had financed this building previously when it was purchased. They came back to us in need of cashing out so that they could build up cash reserves for a new business venture.

CHALLENGE

The client’s financial picture changed dramatically from the first time we had assisted them, and was merely a result of the startup costs that were associated with their new business venture.

SOLUTION:

It was necessary that all units have increased rents in order to meet the needed loan amount, and final underwriting took place after the effective date. We structured a new loan with the previous lender as a part of their retention program. It allowed us to waive Prepay.

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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

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