Real estate investor sought a new business purpose purchase 1st TD on this non-owner occupied 3 unit investment property in Los Angeles, CA.
The subject property is 2,240 SF contemporary style duplex sitting on a 6,346 SF lot. The home has 15 total rooms with 6 BR/4 BA and a 1-car attached garage. Property consists of front house 3 bedrooms 2 full bathrooms, back house with 2 bedrooms 1 full bathroom, 3rd unit with1 bedroom 1-bathroom, new exterior & interior paint, new windows d/pane, laminate hardwood floor through the 3 units, new plumbing & electrical fixtures, new roll up door, property has 1 car garage a long driveway that you’re able to park up to 3 to 4 cars. Currently all 3 units are vacant. The property is close to schools, Cal State University, and 10 minutes from DTLA. Potential rental income is $7,000/ month. Exit strategy from our loan is a conventional refinance. Seller purchased the property earlier this year and completely remodeled the property and is now selling to our borrower.
What we like about this Trust Deed opportunity:
- Non-owner Occupied Investment Property
- Los Angeles Location
- 9.50% Annualized Return
- 6 months Guaranteed Interest
- Recent Complete Renovation
- $7,500/month potential rental income