» 2MM 16 Unit Apartment Complex, South Pasadena, CA
Posted by Avatar Financial
The property is currently owned free and clear and is in excellent condition with numerous recent upgrades. The property is on a quiet residential street and each unit has its own covered parking spot. The guarantor is purchasing an investment property in Texas and will be utilizing the cash out as part of the down payment. The guarantor has excellent credit and strong net worth. The borrower will retire Avatar’s debt with a conventional refinance.
- Loan Amount: $2,000,000
- LTV: 30%
- Interest Rate: 5.99% Charged to Borrower for 6 months, 7.99% thereafter.
- Term: 1 year