5 Units- Multifamily Property

Another Successfully Funded Loan

  • $214,000
  • 10 Year fixed @ 5.50%
  • Cash Out Refinance-52% LTV
  • 5 Units- Multifamily Property Little Rock, Calif.

ASSIGNMENT:

This was a cash out refinance. The client had bought the property a few years back and the seller financed for buyer but now needed to get paid off. Our client has kept rents extremely low and has long term tenants, and no money had been put into the buildings.

CHALLENGE

Honestly I wasn’t sure if we were going to be able to get bank financing on this one. The market area, the collateral, and the small loan amount.

SOLUTION:

One of our best capital sources stepped up to the plate for us. It was a low leverage deal, the borrower was strong, and the property actually had huge upside to it. You wouldn’t guess this from the picture.

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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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