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Crescent Lenders Funds

$2.5M Hard Money Purchase Loan for Apartment Complex

Montebello, Los Angeles

About The Deal

The borrower was seeking a private money loan for the purchase of multi-family apartment complex in Montebello, California. 

Located in a strong rental market, the subject property has a total of 17 units which are made up of thirteen 2-bedroom, 1-bathroom units, three 1-bedroom, 1-bathroom units and one 3-bedroom 2-bathroom unit.

The 12,414 sq. ft. building sits on a 40,700 sq. ft. lot with on-site parking for the tenants and a total monthly rent roll of $22,416 per month. 

The subject property is in fair condition but could use a light remodel.

The borrower is an experienced real estate investor for whom Crescent Lenders has arranged numerous Southern California hard money loans over the past 5 years. 

The borrower has a very good track record with us and has also demonstrated a keen ability to acquire properties they later resell for a profit. 

The buyer is putting down 15% which equates to $570,000 in cash. 

Crescent Lenders provided the borrower with a 1st position hard money loan for $2.5 million as well as a 2nd position hard money loan for $380,000 and a 3rd position hard money loan for $350,000.

The 3rd position loan will be due in 4 months once the borrower sells another property.

Both the 2nd and 3rd position hard money loans will have 4 months of prepaid interest. 

After completing a light remodel and increasing rents, the borrower will transition out of the bridge loan and into a traditional bank loan with a lower interest rate. 

Montebello Apartment Complex in Los Angeles County
Montebello, Los Angeles
12 months
Purchase Financing
Multi-Family Apartment Complex
Exit Strategy

Looking for a Purchase Financing Loan Near Montebello?

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 an estate loan for your inherited property in Santa Monica or are looking need a bridge loan for a rental property in Manhattan Beach, you’ll find some of the best rates, fees and service with us.

Checkout our bridge loan rates California page to see how we can work together.

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We Can Deliver Rapid Financing
Between $200k and $5 million dollars
Nationwide private lender (not a broker, avoid the extra fees)
Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges, cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders

Suite #116, 999 Overland Ave

Los Angeles, California


Disclaimer: Crescent Lenders, DBA CrescentLenders.com ("CL") is a California licensed broker under California Bureau of Real Estate License No. #01792267. Regardless of this license, CL considers itself a “finder” for purposes of applicable laws and regulations (California Business & Professions Code § 10130, et. seq.).