Wilshire Quinn Capital announced that its private lending fund, the Wilshire Quinn Income Fund, has provided a $1,500,000 refinance loan on two multi-family properties in Los Angeles, California.
The first property is comprised of 10 units and located in the South Gate area of Los Angeles. The property is fully occupied and comprised of 5,800 square-feet, including 10 parking spaces, on a .31-acre lot.
The second property is also fully occupied and comprised of 4 units, with 2,360 square-feet, including 4 parking spaces, on a .15-acre lot.
The properties appraised collectively for $2,480,000, giving Wilshire Quinn a total loan-to-value ratio of 60 percent on the transaction.
- Property Type : Multi Family
- Loan Type : Bridge Loan
- State : New York
- City : Brooklyn
- Funded Amount : $465,000
