Business owners sought a $365,000 business purpose 2nd Trust Deed loan on this owner-occupied single-family residence in Los Angeles, Los Angeles County, CA. Loan proceeds will be used for Borrower’s business, Powerfade Marketing, LLC (https://powerfademarketing.com). A Powerfade P&L for 2023 is in the CTD Due Diligence File and shows a company Net Income of $405k.
The borrower’s 1st mortgage is with Select Portfolio Servicing and has a principal balance of $2,125,000 with a fixed rate of 4.250%, and a monthly interest-only payment of $7,526.04.
The subject property is a 3,422 SF contemporary-styled single-family residence that sits on a 6,968 SF lot and abuts the Los Angeles Country Club. The home features 8 total rooms including 4 bedrooms and 3.5 bathrooms. The property is adjacent to the Wilshire Corridor and within a short distance to UCLA and Beverly Hills with their entertainment and shopping venues as well as accessible to beach communities.
What we like about this Trust Deed opportunity:
- Business owners
- 60.00% CLTV
- 12.50% Lender Rate
- 3 months Prepaid Interest
- 6 months Guaranteed Interest
- Prime West LA Location
- Remodeled and Conforming Single Family Residence
