Borrower sought a 2nd Trust Deed on this Ocean-View Beach Cottage investment SFR located in Laguna Beach, Orange County, CA. The purpose of this loan is to invest in borrowers’ merchant payment processing business. Borrowers’ small 1st mortgage is current with a principal balance of $144,427, a fixed interest rate of 4.75%, P&I payment of $1,756/mo. maturing September 2046.
The subject property is an Ocean View Beach Cottage in South Laguna Beach off PCH and walking distance across the street from many popular beaches. The subject offers 1 Bed / 1 Ba, with 500 SF living space on a 1,400 SF lot. The subject is featured on vacation rental sites and averages $2,900 monthly. The subject property is very well located on popular beaches, surrounded by restaurants, shopping, hiking trails, parks, downtown Laguna Beach.
What we like about this Trust Deed opportunity:
- Oceanview Beach Cottage in popular beach town Laguna Beach
- Small $144,427 1st TD
- 11.00% Investor Yield
- 57.55% CLTV
- 56.12% Net CLTV
- 6 months Prepaid Interest
- 3 months Guaranteed Interest
$575,000 2nd TD @ 11.00%, 57.55% VLTV, NOO, SFR, CO, 24 mo. term, $57,500 Min Inv., Laguna Beach, CA
