The borrower needed a hard money loan for the purchase of this triplex which consists of three oversized units in the West Adams part of Los Angeles, located near The University of Southern California.
The property is very well located and in a strong rental demand market.
The borrower is an experienced investor with a very good track record and has been a Crescent Lenders client for over 4 years.
There will also be a 2nd position bridge loan for $164,000 by a different private money lender.
The buyer put down 15% (making some light improvements) and will refinance or sell the property within 4-12 months.
If you need a bridge loan for a buy-hold property in Pasadena, or if you want to purchase a distressed property in West Hollywood with the intention of gutting and renovating it- Crescent Lenders can help get the finance that's right for your needs.
Interested in financing? Contact our team to discuss the options today.
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