Rehab Value-Add Loan for 6 units Multifamily in West Hollywood

Funded by Diversified Mortgage

$2,350,000

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

03/15/2023

Property Type
Multifamily
Property City

West Hollywood

Property State

CA

Loan Term (months)

24

Lien Type

1st Trust Deed

Property Value

$3,450,000

Loan-to-Value

68%

Location Type

Urban

Property Condition

Poor

Occupancy at Closing

Vacant

Borrower's Plan

Rehab and Sell

Exit Strategy

Sale

Borrower Credit Rating

Average

Interest Rate

7.95%

Origination Points

2%

Deal Summary

Financed 100% vacant multifamily property

Funded By

Diversified Mortgage

Multifamily Bridge Loans only. Interest Rates are 8.5% for 4-year term, 8.25% for 2 years, 7.95% for 1 year.

Dealmakers

Mike Meisenbach

Loan Agent

CA DRE Lic. 01049908