)
Deal Details
Private Loan Type
Residential Rehab
Approx. Funding Date
09/19/2018
Property Type
Multifamily
Property City
Los Angeles
Property State
CA
Lien Type
1st Mortgage
Payment Type
Interest Only
Renovation Budget Funded
100%
After-Repair Value
$66
Deal Summary
RCN Capital, a national direct private lender, funded a $1,402,000 1st lien position hard money rehab loan for a multifamily property in Los Angeles, California. The Borrower was an experienced investor who was looking for the funds to renovate this 6-unit apartment building. RCN Capital was able to provide a loan at 66% of the After-Repair Value and 100% of the renovation costs. Once the project is complete the investor anticipates a 25% return on investment. This hard money rehab loan was funded in September 2018.
Funded By
RCN Capital
Direct Lender for Residential Fix & Flip, Long-Term Rental, Bridge Loans