Multifamily Cash Out Altadena, CA

  • $2,660,000
  • 3.84% Interest Rate
  • 15 year term / 5 year fixed with 30 year amortization
  • 15% equity cash out to Partnership
  • High tenancy turnover on 17 units
  • Asset only owned for 12 months
  • Weak historical operating statement
  • Challenging neighborhood
  • Sponsorship credit issues
  • Underwritten to rent roll and go forward expenses
  • Funding Source: Local Bank