Real estate investor sought a business purpose cash-out 1st TD on this non-owner occupied investment property in Los Angeles, CA in Los Angeles County. Funds from our loan will be used to payoff an existing 1st and additional cash-out to make minor improvements to the subject property.
The subject property is 1,115 SF contemporary style Single Family Residence sitting on a 5,053 SF lot (.1163 acres) at the end of a cul-de-sac. The home has 7 total rooms with 3 BR/1 BA and a 2-car attached garage. The property is located south of the 105 FWY and east of the 110 FWY and is centrally located to close to schools, shopping, and transportation. Rental income is $1,404/ month and is Section 8 housing.
What we like about this Trust Deed opportunity:
- Non-owner occupied investment property
- Low LTV of 23.53%
- 7.00% annualized return
- 9 months guaranteed interest
- 3 months prepaid interest