Borrower sought a small business purpose 2nd Trust Deed on this investment townhome located in a gated community in Old Torrance, “Villages on Oak”, Los Angeles County, CA. The purpose of this loan is to remodel borrower’s “Togo’s sandwich restaurant located in Burbank, CA. Borrowers’ 1st mortgage is current with a principal balance of $400K with a low fixed interest rate of 3.50%, P&I payment of $1,944/mo. maturing October 2050.
The subject property is a contemporary, 3-story townhome in a private gated community, centrally located in Old Torrance, CA and just 15 minutes east of Redondo Beach. The property features a total of 5 rooms, 2 Bed / 3 Bath with a den on entrance floor, 1,490 SF living space and a two-car-attached garage. The “Villages on Oak” feature a nice community pool and spa. The subject is fully occupied earning $3,200 monthly rental income. The subject property is very well located near Torrance High School, many local restaurants, parks and shopping plazas. 15 minutes east of popular Redondo beaches and near the 405 and 110 freeways.
What we like about this Trust Deed opportunity:
- Good condition rental Townhome in well located Old Torrance gated neighborhood
- Small, low fixed rate 1st TD
- 12.25% Investor Yield
- 60.23% CLTV “30 Day Quick Sale” value
- 58.24% Net CLTV “Sales Price” value
- 6 months Guaranteed Interest
