West Hollywood, CA

$2,200,000

Retail

Commercial Property Value Add

04/19/2019
Transaction by
Wilshire Quinn Capital, Inc.
Wilshire Quinn Capital provided a $2,200,000 private money bridge loan for the rehab of a retail property in West Hollywood, California. The commercial retail building is currently comprised of 2,555 square-feet on an 10,046 square-foot lot. The renovation will include the addition of a second story, adding 2,781 square-feet, and will total 5,336 square-feet upon completion. The property was appraised on an as-is basis for $4,640,000,. Our loan amount equates to 47 percent of the as-is value, and 34 percent of the after-repair value, which we believe is a strong rehab loan scenario for our fund. We also cross-collateralized a single-family residence in the Los Angeles area.