The borrower sought a private loan to purchase an 8-unit multi-family apartment complex in Whittier, Los Angeles, for $1,585,000.
The property, located in a high rental demand area, comprises three 2-bedroom, 1-bathroom units and five 1-bedroom, 1-bathroom units.
The borrower contributed a 15% down payment, and a new 1st position private money loan of $1,050,000 was also obtained.
With a successful track record of receiving various Los Angeles hard money loans from Crescent Lenders over 4 years, the borrower has been a reliable, profitable fix and flipper.
The borrower intends to refinance with a traditional bank in approximately 6 months.
Whether you need a purchase financing loan for a multi-family apartment complex in Montebello or a cash-out Loan in Beverly Hills, Crescent Lenders can help with your urgent real estate financing investment needs.
See why we are the leading Los Angeles Private Money Lenders.
