Acquisition financing for 5 story brick multifamily in Los Angeles, CA

 

50 Units in the Mid-Wilshire area of Los Angeles, CA

 

  • $2,800,000
  • 75% loan to acquisition for 5 story brick building
  • Time of the essence closing
  • Constructed in 1928
  • Suffering from deferred maintenance with rent controlled tenants
  • Non recourse with no seismic retrofit requirements.
  • Funded by local bank