Investment Opportunity: 1st Trust Deed Refinance Loan
A highly qualified borrower, a proven track record as a repeat Mortgage Vintage investor, and extensive real estate experience sought a 1st Trust Deed refinance loan for a newly built, non-owner-occupied multifamily property in Santa Ana, Orange County, CA. The loan proceeds will refinance existing Mortgage Vintage maturing construction loans.
Property Overview:
The subject property is a newly constructed, fully occupied, two-story multifamily residence in Santa Ana. It consists of two buildings (SFR, attached JADU, ADU) with a net rentable area of 3,763 SF, situated on an 11,154 SF lot. Key features include:
- 16 rooms, including 9 bedrooms and 6 bathrooms
- Three-car garage, solar panels
- Fully occupied with three tenants generating an official $11,200 in monthly rental income from the 3 rental units but, unofficially, the property generates $13,700/mo. when incorporating the lock off unit.
- Prime location near parks, restaurants, schools, shopping centers, and easy access to the 5 and 55 freeways
Loan & Investment Details
- Loan-to-Value (LTV): 64.86%
- Net LTV: 63.08%
- Appraised Value: $1,850,000
- Investor Yield: 9.50% annualized return
- Guaranteed Interest: 6 months
- Prepaid Interest: 3 months
- Minimum Investment: $40,000
- Exit Strategy: Borrower plans to refinance into a new DSCR loan
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