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Pasadena Multi-Family Property

Property Details

Location

Property Type

Loan Amount

Pasadena, CA

Multi-Family

$625,000

LTV

DSCR

Rate / Term

54%

1.25

5.75% / 5 year fixed 30-year term

Challenge

Borrower had limited operating history due to recent purchase. Property was purchased with cash in 2016 and the borrower invested significant funds in capital improvements, which increased rental income.

Solution

Axos Bank was able to underwrite and provide a cash out loan based on increased value of the property after stabilization.

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