Class C Multifamily Cash Out Koreatown, Los Angeles, CA

 

Funding Source: NW Regional Bank

 

  • $3,140,000
  • 3.75% Interest Rate
  • 30 year term / 5 year fixed with 30 year amortization
  • Underwritten to rent roll and go forward expenses
  • 31% equity cash out to Partnership
  • High tenancy turnover on 24 units
  • 75% units upgraded in prior 3 years
  • Weak historical operating statement
  • Challenging neighborhood w/no parking
  • Sponsorship credit issues