Successful business owner sought a business purpose cash-out 2nd TD on this owner-occupied, luxurious high-rise condominium on Wilshire Blvd. in Los Angeles, CA. Funds from our loan will be used to meet the booming demand for borrower’s government sponsored COVID testing and vaccination program for uninsured individuals. Borrower’s existing 354k 1st TD is current in good standing. Exit strategy is to pay off our new 2nd TD from business proceeds.
The subject property is a contemporary style condo in the luxury, high-end “Dorchester” building on Wilshire Blvd. The subject property has expansive city views of the Wilshire corridor and features a 24 hour valet, doorman, concierge, pool, spa and fitness center. The subject property has 1404 SF of living space, 5 total rooms, with 2 Bed / 2 Bath and a 2 car detached garage. The subject property is very well located next to Beverly Hills, Bel Air, UCLA, Westwood, many high-end retail stores, restaurants and just off the 405 fwy.
What we like about this Trust Deed opportunity:
- Highly desirable “Wilshire Blvd Corridor” neighborhood
- 708 FICO
- 9.00% investor yield
- 6 months Guaranteed Interest
- 3 months Prepaid Interest