57% LTV; C/O Refi of a 6-Unit Multi-Family Prop. in L.A., CA
Our repeat borrowers, with strong credit scores, who have paid us perfectly, used the proceeds of our mortgage loan against their investment property to perform extensive renovations on the subject in order to maximize their income on the 6-unit investment property.
The property generates a good cash flow with a 1.1x DSCR (Debt Service Coverage Ratio) based on our Promissory Note rate.
The subject is a 6-Unit multi-family which has a GBA (Gross Building Area) of 7,327 square feet with the following breakdown:
�?� Three 5+2s with approx.1,300 sqft.
�?� Three 4+2s with approx. 1,100 sqft.