Borrowers are seeking a 2nd Trust Deed on this owner occupied and non-owner occupied SFR 2 units (zoned R2) located in Ventura, Orange County, CA. The purpose of this loan is to pay off a small $46K existing 2nd TD in good standing and the balance to invest in borrowers’ wellness business. Borrowers’ 1st mortgage is current with a principal balance of $484K, a fixed interest rate of 3.75%, P&I payment of $2,957/mo. maturing March 2047.
The subject property is a two-story, Spanish Mediterranean styled a SFR zoned R2 in Ventura County. The top unit of SFR is owner occupied and the bottom unit of SFR is fully leased earning $2,500 monthly rent. The subject offers a total of 8 rooms, 5 Bed / 4 Ba, with a total of 2,323 SF living space on a .144 acres lot. The subject property is very well surrounded by similar SFRs, near restaurants, shopping, schools, parks, and just a few miles from Ventura Beach and 101 Hwy.
What we like about this Trust Deed opportunity:
- SFR near Ventura Beaches
- 12.50% Investor Yield
- 59.53% CLTV
- 58.02% Net CLTV
- Earning rental income
- 6 months Prepaid Interest
- 6 months Guaranteed Interest
$275,000 2nd TD @ 12.50%, NOO, SFR, 59.53% CLTV, $34,375 Min., Ventura, CA
