NOTE DOWNTOWN LA HOTEL/MULTI FAMILY/RETAIL DISSTRESS 122 ROOMS $4MM

NOTE

DOWNTOWN LA HOTEL/MULTI FAMILY/RETAIL DISSTRESS 122 ROOMS

$4mm plus 3% commission.

Bank will not look at offers under $4mm. they made that very clear

NonPerf NOTE for a distressed 122 room SRO Hotel/Multi Family Apartment  and Retail Building located in Downtown Los Angeles. The property is behind in payments although no NOD has been filed and also having issues with LAHD (REAP) due to complaints and violations and the bank is looking to sell the note at a discount.

 

The property is located a few blocks from the LA Convention Center and Staple Center and in a prime development area of Downtown LA. The units rent weekly and month to month and have several retail spaces located on the ground floor.

 

SUMMARY:

42,136 SF MIXED USE RESIDENTIAL

11663 SF LOT

BUILT IN 1911

RETAIL UNITS

99 BEDROOMS/28 BATHROOMS

LOAN MATURES 7/2016

APPRAISED IN 2006 for $6.8M

UNPAID BALANCE

$4,327,000

 Call 714-606-6100 email mweahunt@gmail.com

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