The purchaser of a 5-unit multi-family apartment complex in Los Angeles, located in the highly in-demand rental area of Jefferson Park, required a bridge loan for a purchase price of $1.22 million dollars.
The complex consists of three 2-bedroom units and two 1-bedroom units.
The borrower was fortunate to receive three vacant units, enabling them to charge the current high market rate for rent.
Our client is an experienced investor who has successfully obtained private money loans from Crescent Lenders for the last four years.
Their track record demonstrates a proficiency in purchasing and reselling properties at a healthy profit.
The buyer placed a 15% down payment and intends to make minor improvements before refinancing with a conventional bank.
Crescent Lenders is a top rated private money lending company providing loans around The Los Angeles area.
We have been providing loans to commercial, residential and industrial California real estate investors for over a decade.
Whether you need a bridge loan to purchase a luxury home in the hills of Bel Air or require financing to acquire a high-end commercial property in Beverly Hills, Crescent Lenders is here to help you with all your private money loan needs in Los Angeles' most prestigious neighborhoods.
Our expertise extends to providing tailored solutions for a wide range of property types throughout the region, including the affluent communities of Pacific Palisades, Brentwood, and Hancock Park.
Trust us to work closely with you to secure a California bridge loan.
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Los Angeles, California