Loan Summary
Borrowers and real estate developers sought a 2nd TD business purpose cash out on this owner occupied high-end, contemporary SFR + ADU with city, canyon and hillside views located in the desirable “Mission Hills” neighborhood of San Diego, CA. Loan proceeds will be used to support interim cash flow needs for an 80-unit mixed-use apartment project on University Street in San Diego, owned by the borrowers, between construction draws.
Exit Plan: Borrowers also own a newly completed 29-unit apartment building on Tyler Avenue in San Diego, currently in lease-up. Upon stabilization, they plan to sell the property and use the proceeds to repay the loan.
The 1st TD loan is current, in good standing with a principal balance of $1,555,781 with a low 3.625% fixed 30 year rate, a PITI monthly payment of $8,026, maturing in July 2050.
Property Description:
This subject property is a high-end, contemporary SFR + ADU located in the desirable “Mission Hills” neighborhood of San Diego, CA with city, canyon and hillside views. The subject offers 4,000 SF of living space in the main house with 4 bedrooms and 4.5 bathrooms on a 5,000 SF lot. The home features a modern tri-level, view-oriented design with quality finishes, multiple indoor-outdoor living areas, and premium amenities including solar panels, an EV charging station, outdoor kitchen, fireplace, and a finished 400 SF basement. A key value component is the permitted detached ADU (387 SF) with its own kitchen, bedroom, and bath, providing flexibility for rental income or multigenerational living, with projected rents around $12,500/month combined. Located just minutes from downtown San Diego, Mission Hills is a well-established, high-demand neighborhood known for its blend of historic and renovated homes, walkability to restaurants, retail, and schools, and strong owner-occupancy. Overall, this is a prime urban luxury asset with strong end-user appeal, limited inventory competition, and added income potential through the ADU.
What we like about this Trust Deed opportunity:
- Real estate developers
- High-end, excellent condition SFR + ADU in desirable “Mission Hills” neighborhood of San Diego, CA
- 11.75% Investor Rate
- Low 1st TD fixed mortgage rate of 3.625%, in good standing loan
- Net Protective Investor Equity $2,117,407
- 6 months Prepaid Interest
- 3 months Guaranteed Interest
