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Hermosa Beach 2-4 Unit Property

Property Details

Location

Property Type

Loan Amount

Hermosa Beach, CA

2-4 Unit

$2MM

LTV

DSCR

Rate / Term

33%

.52

5.63% / 5 year fixed 30 year term

Challenge

A non-owner occupied, 4 unit property’s cash flow was below 1.0:1 debt cover based on operating history and general underwriting assumptions.

Solution

Axos Bank was able to lend on the property at the current debt coverage due to the property being located in a true tier 1 market, being less than 65% LTV, and the strength of the borrower.

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