Los Angeles, CA

This loan is a first deed of trust on a commercial recording studio in Los Angeles, CA. Located along Venice Boulevard within the Miracle Mile submarket, the property benefits from a central location near established residential neighborhoods, commercial districts, and major employment centers. The surrounding area offers convenient access to shopping, dining, entertainment, and professional services, along with connectivity to neighboring communities throughout Los Angeles. Its location along a major east-west thoroughfare provides visibility and accessibility within the city's established commercial real estate market. The subject property, located at 5350 Venice Boulevard, is a two-story, single-tenant commercial building situated on two parcels totaling approximately 7,140 square feet. The property contains approximately 6,000 square feet of building area, with roughly 3,000 square feet per floor. Originally configured as an office building, the property features brick construction, central heating and air conditioning, polished concrete and hardwood flooring, upgraded electrical systems, and security features. The Borrower purchased the property in 2012 and completed an extensive renovation in 2025, transforming the former office building into a fully equipped, high-end recording studio. Improvements totaling approximately $614,000 included interior and exterior upgrades, soundproof insulation, and specialized enhancements to accommodate its recording and music production use. The property is currently 100% leased to White Panda Music Group, which occupies the entire building. The lease commenced in April 2025 and generates approximately $27,810 in monthly rental income, or $333,720 annually, with scheduled annual increases of 3%. The purpose of the loan is to refinance existing liens and provide additional cash out for the Borrower to invest in other projects. The Borrower intends to refinance the property and repay the loan before maturity. The loan will have a maturity of 24 months.