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

8 Units- Multifamily Property Long Beach, Calif.

Another Successful Funded Loan

  • $1,160,000
  • 5 Year fixed @ 4.250%
  • Purchase-58% LTV
  • 8 Units- Multifamily Property Long Beach, Calif.

 

ASSIGNMENT:

1031 exchange

 

CHALLENGE

Borrower was having trouble finding lender that would provide loan amount that would fit the 1031 down payment funds. Property rents were low and could not hit the loan amount with the market rate and DCR guidelines.

 

SOLUTION:

Loan request was sent to lender with lowest underwriting rate and lowest DCR possible. Only 1 lender could have provided the loan amount needed and ALB was able to immediately assess the financials of the property and placed the loan at the perfect place for a successful close.