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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