Experienced real estate investor is seeking the cash-out business purpose loan to payoff the existing loan and to make some minor improvements to the property.
The property consists of two structures with each structure containing 2 units for a total of 4 units. Total square footage is 2,177 sf with two units being 533 sf and the other two units being 555 sf. Each unit consists of 1 bedroom and 1 bathroom. There is 1 garage for each unit. The property has been recently remodeled with new flooring, appliances, and paint. Each unit rents for $1,500 per month. The property is centrally located in the western part of Long Beach and located close to the 710 and 405 fwys, close to the beautiful neighborhood of Bixby Knolls.
What we like about this Trust Deed opportunity:
- Long Beach Location
- Non-owner Occupied Investment Property
- Recently Renovated
- 8.00% Annualized Return
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
- $6,000/total monthly rental income
$150,000 1st TD @ 8.00%, 12.19% LTV, 4-plex, NOO, $50,000, Min Inv., Long Beach, CA
