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Crescent Lenders Funds

$3M Hard Money Refinance on 15-Unit Apartment Complex

North Hollywood, Los Angeles

About The Deal

Crescent Lenders recently refinanced a private money loan for a 15-unit apartment complex in North Hollywood, Los Angeles.

Each unit in the apartment building has 2 bedrooms and 2 bathrooms and is over 1,000 sq. ft.

By valuing each apartment at roughly $200,000 it gives the entire complex an approximate value of $3 million dollars.

We gave the borrower a $1.625 million dollar bridge loan in order to refinance out of an existing $1.5 million private money loan.

The loan to value ratio for this particular deal came out to 55%.

Crescent Lenders holds a 1st lien position with a 9.50% interest rate that expires after 24 months.

For the past 8 years we have funded numerous private money loans for this borrower with great success.

The borrower is a high net worth individual with plenty of experience in the North Hollywood real estate market.

North Hollywood is a great Los Angeles neighborhood for real estate investors since renters inhabit more than 75% of all housing.

Multi-Apartment Complex in North Hollywood, Los Angeles
Amount
$1,625,000
Location
North Hollywood, Los Angeles
Rate
9.5%
LTV
55.0%
Term
24 months
Type
Refinance
Commercial
Multi-Family Apartment Complex
Exit Strategy
Refinance with a Traditional Bank

Looking for a Refinance Loan Near North Hollywood?

Crescent Lenders is a top rated private money lending company providing loans around The Los Angeles area.

We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.

Whether you need funding for a rehab project in Manhattan Beach or want to cash out some built-up equity in your Venice Beach condo, whatever your situation may be, Crescent Lenders is here to assist you with all your California hard money needs.

We specialize in providing bridge loans for all types of properties up and down the California coast.

Take a look at our California hard money loans to see how we can work together.

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Email
info@crescentlenders.com
Phone
213-474-3131
Send Us A Message
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, cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders

Suite #116, 999 Overland Ave

Los Angeles, California

90064

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.).