• (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610
  • (800) 510-2214
  • info@albcommercialcapital.com
  • Cal BRE License #01379610

36 Units Multifamily

Another Successful Funded Loan

  • $2,026,000
  • 5 Year fixed @ 4.70%
  • Purchase-69% LTV
  • 36 Units
  • Multifamily Property
  • San Bernardino, Calif.

ASSIGNMENT:

Purchase transaction for a repeat client who was in a 1031 exchange. Ideally he wanted the highest possible leverage on the transaction.

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CHALLENGE:

There was a lack of historical income and expense statements provided for the building a result of the seller being bad with their bookkeeping. Seller had high onsite management expenses.

 

SOLUTION:

We were able to provide lender a satisfactory proforma that was in line with an appraisers forecast and well as the underwriter. Got the loan closed and on time.