Private Money Loan for 5 Unit Multi-Family Apartment Complex in Los Angeles

The borrower was seeking a $100,000 2nd position hard money loan to finish improvements on a multi-family apartment complex they are fix-and-flipping in Los Angeles, California.

The $100,000 will be repaid through the sale of the fix-and-flip or via a refinance loan. 

There is an existing 1st position private money loan with Crescent Lenders that was arranged in September 2018.  

The combined loan-to-value of the first position and second position hard money loans is under 65% and the subject property has a current market value over $1,000,000.

The collateral property is located in a strong rental demand area – Boyle Heights (just 10 minutes east of downtown Los Angeles). 

There are 5 units, each 2-bedroom, 1 bathroom which produce gross monthly rents of $6,300. 

The borrower is an experienced real estate investor and has been a real estate broker for 25 years. 

Crescent Lenders has provided previous financing to this borrower and the payment history has been very satisfactory which encouraged us to make this loan.

$100,000
Amount
12 Months
Length
65
LTV
12.99
Rate
Fix-and-Flip
Type
Multi-Family
Commercial Apartment Complex
Exit Strategy
Sell or Refinance

Do You Need a Los Angeles Hard Money Loan?

For over a decade Crescent Lenders has been providing short-term financing for California real estate investors from San Diego to San Francisco.

Maybe you want a fix-and-flip loan to rehab a home in Long Beach or need a probate loan for an inherited property in Torrance, a private money lender like Crescent Lenders is a perfect solution for your alternative financing needs. 

If you require a California hard money loan, contact us today for more information!

We Can Deliver Rapid Financing

Between $200k and $5 million dollars

Nationwide private lender (not a broker, avoid the extra fees)

Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges and cash-out

All types of investment properties considered, residential, commercial and industrial



Crescent Lenders

2999 Overland Ave, Suite 116
Los Angeles, California
Phone
213-474-3131
  • California
  • Los Angeles
  • San Diego
  • San Francisco

Disclaimer: Crescent Lenders, DBA CrescentLenders.com ("CL") is a California licensed broker under California Bureau of Real Estate License No. #01792267. Regardless of this license, CL considers itself a “finder” for purposes of applicable laws and regulations (California Business & Professions Code § 10130, et. seq.).

Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064