read-only preview — download the Excel file to edit
| Submission Form | ||||||||||||||||||||||
| Fred P. Ornelas | ||||||||||||||||||||||
| Regional Manager | ||||||||||||||||||||||
| Cell 310-874-8184 | ||||||||||||||||||||||
| Office 949-305-3720 | ||||||||||||||||||||||
| FOrnelas@axosbank.com | ||||||||||||||||||||||
| 1) | Subject property address: | 2222-32 E Anaheim St and 1139 Raymond Ave, Long Beach, CA 90804 (one parcel) | Date: | 22 September 2026 | ||||||||||||||||||
| 2) | Number of conforming units: | 13 (8 residential + 5 commercial) | Year built | 1960 | Type of investment property: | Mixed-use: 8-unit apartment building and 5 storefronts on one corner parcel | ||||||||||||||||
| 3) | Refinance (complete the information below if the transaction is a refinance): | |||||||||||||||||||||
| Loan amount requested | 1428572 | 0 | ||||||||||||||||||||
| Existing 1st TD balance | 1,428,572.32 | 0 | Existing lender: | Axos Bank, loan 900027954 (matures 1 Oct 2026) | Discount of existing Note? | No | ||||||||||||||||
| Existing 2nd TD balance | 0 | 0 | Existing lender: | Discount of existing Note? | ||||||||||||||||||
| Last sale price | N/A — refinance | 0 | Last sale date: | Owned since the 1970s | Was it bank owned ? | No | ||||||||||||||||
| Estimated market value | 3200000 | 0 | ||||||||||||||||||||
| Purpose of loan (please be specific - you may attach a Source and Use Statement): | ||||||||||||||||||||||
| Refinance of the existing Axos first trust deed maturing 1 October 2026; no cash out. | ||||||||||||||||||||||
| 4) | Purchase (complete the information below if the transaction is a purchase): | ***IMPORTANT*** CLOSE OF ESCROW DATE: | ||||||||||||||||||||
| List price | Is the property bank owned or a distressed sale? | N/A — refinance, not a purchase | ||||||||||||||||||||
| Purchase price | Is the seller giving any credits? If yes, how much? | N/A | ||||||||||||||||||||
| Cash down payment | ||||||||||||||||||||||
| Secondary financing | Interest Rate - 2nd TD | Loan term | Interest only | |||||||||||||||||||
| Loan amount requested | N/A | |||||||||||||||||||||
| Special instructions (e.g. 1031 exchange, source of down payment, etc…): | ||||||||||||||||||||||
| Refinance of the existing Axos loan 900027954 (matures 1 Oct 2026). Not a purchase — Section 4 does not apply. No 1031 exchange; no secondary financing. | ||||||||||||||||||||||
| 5) | Unit Mix - Number of Unit Type | |||||||||||||||||||||
| SRO units | 0 | Bath | Est. Sq. Ft. | Number of vacant units? | 2 storefronts (2226, 2230); apartments fully let since 1 Aug 2026 | Number of units on notice? | 0 | |||||||||||||||
| Bachelor units | 0 | Bath | Est. Sq. Ft. | Rent Concessions/Move in Specials? | None | |||||||||||||||||
| Studios (full kitchens) | 0 | Bath | Est. Sq. Ft. | |||||||||||||||||||
| 1-bedroom units | 1 | Bath | 1 | Est. Sq. Ft. | 500 | Critical key points to the transaction (strengths, weaknesses, mitigating factors): | ||||||||||||||||
| 2-bedroom units | 7 | Bath | 1 | Est. Sq. Ft. | 650 | Strengths: family-owned since the 1970s; all 8 apartments and 3 of 5 storefronts let; no other debt on the property; professional management (REMS). Weakness: two storefronts vacant; the existing Axos loan matures 1 Oct 2026. Mitigants: the vacant storefronts are currently being marketed and shown, and due diligence is under way on a prospective tenant for the larger space; long tenant history; 2025 NOI $146,940 on the REMS statements. | ||||||||||||||||
| 3-bedroom units | 0 | Bath | Est. Sq. Ft. | |||||||||||||||||||
| 4-bedroom units | 0 | Bath | Est. Sq. Ft. | |||||||||||||||||||
| Single Family units (houses) | ||||||||||||||||||||||
| Mobile Home Park Spaces | ||||||||||||||||||||||
| Commercial units (Net Square Footage) | 5 storefronts, 8,225 sq ft (1,150 + 1,150 + 1,125 + 2,300 + 2,500); 3 let, 2 vacant | See attached | ||||||||||||||||||||
| 6) | Loan program type requested: | Option 4 — SOFR 30 ARM (Axos soft quote 3 Sep 2026: start rate 6.39%, 30-year amortization / 25 for commercial, 10-year term) | ||||||||||||||||||||
| Adjustable (mini-perm) | ||||||||||||||||||||||
| 3 Year Fixed Hybrid MH300 | ||||||||||||||||||||||
| 5 Year Fixed Hybrid MH500 | ||||||||||||||||||||||
| Bridge | ||||||||||||||||||||||
| Stretch Bridge | ||||||||||||||||||||||
| 7) | Mortgage broker rebate and upfront fees: | Broker upfront fees (demand in escrow) | 0 | Broker rebate (paid on the back-end) | 0 | |||||||||||||||||
| 8) | Borrower information (The accuracy of the information is extremely important): | |||||||||||||||||||||
| Borrower or borrowing entity: | Reinstein Enterprises, a California Limited Partnership | Name of individual guarantor(s)/signer(s): | Fred M. Reinstein and Patricia A. Reinstein | |||||||||||||||||||
| Borrower's net worth: | 11602652 | 0 | Credit (foreclosure, bankruptcy, etc...): | Good — no foreclosure or bankruptcy; a civil judgment against an entity interest (FARR Laboratories LLC) is under appeal | If average or poor, include a detailed letter of explanation | |||||||||||||||||
| Borrower's liquid assets (incl. retirement): | 1802710 | 0 | Post-closing liquidity (if purchase)? | 0 | ||||||||||||||||||
| Borrower's Occupation: | Real estate investor; General Partner, Reinstein Enterprises LP | Years employed in this line of work? | 50+ | |||||||||||||||||||
| Annual income with real estate: | 236297 | 0 | Annual income WITHOUT real estate: | 115850 | 0 | |||||||||||||||||
| Number of investment properties owned: | 4 (Long Beach, Arizona, Arkansas, Benedict residence) | 0 | Number of total units owned: | 14 rental units (13 Long Beach + 1 Arizona) + 3 commercial tenants in Arkansas | 0 | |||||||||||||||||
| Value of all real estate owned: | 12592800 | 0 | Debt on all real estate owned: | 3437636 | 0 | |||||||||||||||||
| Any investment properties with negative cashflow? | Long Beach: the Axos payment exceeds net rent until the two storefronts are let | Any negative global cash flow concerns? | No — living expenses are met from investment income, distributions and family resources (see PFS Section 2) | |||||||||||||||||||
| Borrower's mailing address: | 1409 Benedict Canyon Drive, Beverly Hills, CA 90210 | |||||||||||||||||||||
| 9) | Pertinent items needed to process LETTER OF INTEREST (The accuracy of all information in RED is extremely important): | |||||||||||||||||||||
| ● Rent Roll (tenant name, rent, bedrooms/bathrooms, indicate subsidy/low income housing units, square footage, move-in date and vacant units. MHP's - indicate double vs single wide). | ||||||||||||||||||||||
| ● Last 2 Years and Year to Date Income and Operating Expense Statements | ||||||||||||||||||||||
| ● Fully Executed Purchase Contract (if purchase transaction). | ||||||||||||||||||||||
| ● Schedule of Real Estate Owned (optional) | ||||||||||||||||||||||
| ● Lease Summary (commercial units only) | ||||||||||||||||||||||
| ● Letter of Explanation for average or poor credit (IMPORTANT: If the borrower had a bankruptcy in the past, please include the Discharge Date) | ||||||||||||||||||||||
| IMPORTANT NOTE: Once the loan is officially in process (receipt of signed Letter of Interest and deposit), Axos Bank will require a full loan package on the borrowing entity and any individual(s) owing 25% or more of the entity or property. Axos will also package any individual that is required and/or authorized to borrower on behalf of the borrowing entity (e.g. LLC Managing Member). | ||||||||||||||||||||||
| Contact Person/Broker: | Fred M. Reinstein (direct, no broker) | Telephone: | 310-500-7939 | |||||||||||||||||||
| Company Name: | Fax Number: | |||||||||||||||||||||
| Broker's Email Address: | Referred by: | Fred P. Ornelas, Axos Regional Manager | ||||||||||||||||||||
| Company Address: |