Experienced real estate investor and attorney sought a business purpose cash-out 2nd TD on this non-owner occupied SFR rental property in Westwood, Los Angeles County, CA. The funds from our loan will be used towards the purchase of two 5 acre investment mining properties in CA and to bring current the existing 1st TD in Forbearance on the subject property.
The subject property is a contemporary, two story SFR in good condition and located in the desirable Westwood neighborhood of Los Angeles. The subject property is on a 2 year lease, with tenant paying $5,750 a month. The subject property has 2,025 SF of living space and sits on a .12 acre lot. The subject property features 7 total rooms with 2 BR/2.5 BA and 2 car built in garage. The subject property is well located close to the 405 and 10 FWYs, near shopping, dining, top-rated schools and parks.
What we like about this Trust Deed opportunity:
- Desirable Westwood location
- Experienced real estate investor
- Rental income $5,750 per month
- 11.00% Annualized Return
- 61.11% CLTV and 60.52% Net CLTV on conforming SFR
- 6 Mos Guaranteed Interest / 3 Mos Prepaid Interest