Recently Funded Hard Money Loan – Los Angeles: $550,000, 1st TD, 64.71% LTV, 9.00% Lender
The borrower and real estate investor were seeking a new 1st TD to payoff existing mortgage and cash-out for reserves on this Los Angeles multi-unit apartment building. The subject property is a 5-unit apartment building that offers 2 freestanding buildings. The buildings are 2-stories with good “class D” quality construction. Building measures 4,750 SF and…