Crescent Lenders Finances $3 Million Hard Money Loan for North Hollywood Apartment Complex

Crescent Lenders recently refinanced a private money loan for a 15 unit apartment complex in North Hollywood, California.

Each unit in the apartment building has 2 bedrooms and 2 bathrooms and is over 1,000 sq. feet.

By valuing each apartment at roughly $200,000 it gives the entire complex an approximate value of $3.0 million.

We gave the borrower a $1.625 million bridge loan in order to refinance out of an existing $1.5 million private money loan.

The loan to value ratio for this particular deal came out to 55%.

Crescent Lenders holds a 1st lien position with a 9.50% interest rate that expires after 24 months.

For the past 8 years we have funded numerous private money loans for this borrower with great success.

The borrower is a high net worth individual with plenty of experience in the North Hollywood real estate market.

North Hollywood is a great Los Angeles neighborhood for real estate investors since renters inhabit more than 75% of all housing.

$1,625,000
Amount
24 Months
Length
55
LTV
9.50
Rate
Cash-Out
Type
Tow Yard
Multi-Family
Exit Strategy
Refinance into traditional bank loan

Looking for a Hard Money Loan in Los Angeles?

Maybe you need funding for a rehab project in Manhattan Beach or want to cash-out some built up equity in your Venice Beach condo, whatever your situation — Crescent Lenders is here to assist you with all your California private money loan needs.

We specialize in providing bridge loans for all property types up and down the California coast.

Take a look at our Los Angeles hard money loan programs to see how we can work together.

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

999 Overland Ave, Suite 116
Los Angeles, California
Phone
213-474-3131
  • California
  • Los Angeles
  • San Diego
  • San Francisco

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.).

Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064