Equity Cash Out Loan for 5 units Multifamily in Bell Gardens, CA

Funded by Diversified Mortgage

$710,000

Deal Details

Private Loan Type

Equity Cash Out

Approx. Funding Date

03/16/2023

Property Type
2-4 Units Residential
Multifamily
Property City

Bell Gardens

Property State

CA

Loan Term (months)

36

Lien Type

1st Trust Deed

Property Value

$1,270,000

Loan-to-Value

56%

Location Type

Urban

Property Condition

Fair

Occupancy at Closing

Partially Occupied

Borrower's Plan

Rehab and Sell

Exit Strategy

Sale

Borrower Credit Rating

Good

Interest Rate

7.85%

Deal Highlights

Borrower had loan come due and existing lender would not refinance
Ease of transaction

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