Our borrower purchased a .24-acre property in Los Angeles, California, containing a 3,000 sq. ft. concrete block building for $1,575,000.
The building is zoned commercial/light industrial and was delivered vacant.
The buyer was in negotiations with a prospective tenant for a long-term lease.
The borrower owns two similar buildings and has had a positive experience in this property type and location.
The buyer put down $550,000 toward the purchase, resulting in a loan-to-value ratio of 65%.
We met with the borrower at the property site and were very comfortable with the borrower and the collateral asset.
Suppose you're looking for a trust loan to manage an inherited property in the prestigious area of Beverly Hills, or you're facing a hard money loan that's coming due in Long Beach and need to refinance. In that case, Crescent Lenders is here to help.
We offer various lending options to meet your needs, including bridge loans, fix and flip loans, and cash-out refinancing. Our team of experts has the experience and knowledge to guide you through the lending process and find the best solution for your unique situation.
Discover how our services can help you obtain a hard money loan in Los Angeles.
