| Loan type | Cash-out refinance |
| Amount | $2,530,000 |
| Property | Multifamily |
| City | Glendale |
| Closed | August 2022 |
The situation
A Glendale apartment owner sitting on equity with a use for the cash — the most common request we get from long-term Glendale landlords.
The structure
A $2.53M cash-out refinance sized to in-place rents under Glendale’s rent ordinance, with the lender’s reassessed-tax and insurance assumptions handled up front so the proceeds didn’t shrink in underwriting.
The result
Closed with the cash-out the owner planned around, from an office five minutes from the building.
Own an apartment building in Glendale, Burbank or Pasadena? Call 818-217-1217 or email Info@OakridgeCA.com. Learn more about our cash-out refinance loans.