Our client was seeking a bridge loan for the purchase of a 5 unit multi-family apartment complex in the city of Los Angeles.
The purchase price was $1,220,000.
The property is located in the Jefferson Park area where rental demand is strong.
Three of the units are two-bedrooms and two of the units are one-bedroom (total 5 units).
Three of the units will be delivered vacant which is a huge plus since the borrower can rent at current high market rate.
Our client is an experienced investor who has obtained numerous private money loans from Crescent Lenders over the past 4 years.
The borrower has a very good track record with us and has demonstrated a keen ability to acquire and resell properties for a healthy profit.
The buyer put down 15% and after making some light improvements will refinance with a traditional bank.
We offer bridge loans for commercial and residential real estate investors in California.
If you're considering a probate loan for an inherited property in Santa Monica, or need to refinance an existing hard money loan in Pasadena, Crescent Lenders is here to help.
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, 90064