Funded
Not a broker
Rating on Google
The Deal
$1,500,000
Los Angeles, California
12.0%
60.0%
12 months
Refinance
Multi-Family Apartment Complex
Sell the property
Crescent Lenders - a Los Angeles hard money lender recently funded a $1.5 million hard money loan for an LLC owned by two business partners.
One of the business partners loaned the LLC $1.5 million over the past two years to improve all five properties in the LLC, covering permits, architecture, hard costs, square footage expansion, and extensive full remodels.
These upgrades significantly increased the portfolio’s overall value and rental income potential, making the deal a strong candidate for bridge financing.
The LLC will assume this hard money loan and use it to repay the business partner.
The lease income for all five properties totaled around $70,000 per month for the previous year.
With consistent occupancy and reliable tenants, the rental stream provides a solid foundation for loan repayment.
The current lease agreements have 2.5 years remaining, and over $30,000 per month of net cash is available to service the proposed loan.
The existing 1st trust deed debts are all bank loans with fixed interest rates under 5.0%, including property taxes in the mortgage payments.
After servicing the debt on 1st trust deed mortgages, the leases generated over $30,000 monthly.
One of the business partners will personally guarantee this loan, and the leases will remain in place throughout its two-year life.
Los Angeles Commercial Hard Money Lenders
Whether you’re refinancing a multifamily property in Echo Park, completing a fix-and-flip in Silver Lake, or pulling cash out of a rental in the San Fernando Valley, we offer fast and flexible funding with competitive terms tailored to Los Angeles investors.
Crescent Lenders has been helping business owners, homeowners, and property investors secure Los Angeles hard money loans since 2011.
Learn more about our commercial hard money programs on our Los Angeles page.
Recent Deals
