Successful, repeat MVI borrower and business owner sought a $545,000 business purpose 2nd Trust Deed cash out refinance loan on this owner occupied SFR property with floor-to-ceiling panoramic ocean and hillside views on a cul-de-sac in Pacific Palisades, Los Angeles County, CA. The borrower will be using the loan proceeds to pay off an existing business loan of $375,000. The balance of the loan proceeds will be used for working capital for borrower’s global business school.
The borrower’s 1st mortgage is current and in good standing with Axos Bank and has a principal balance of $2,015,295 with a fixed interest rate of 8.875% maturing October 2049. The total monthly payment including taxes and Insurance is $18,305.
Property Description
The subject property is a Spanish styled, one-story SFR at the end of a cul-de-sac with panoramic ocean and hillside views with 2,107 SF of living space, sitting on .25 acres lot well-located in Pacific Palisades, CA. The SFR offers 10 total rooms, 4 bedrooms, 3 baths, pool/spa. The property features high pitched ceilings, hardwood flooring, updated kitchen with stainless steel appliances and Quartz/Caesarstone counters, updated bathrooms with marble tile and privately gated. Landscapers are laying down new soft-landscape around the property. The subject property is well located near the Palisades Village, local beaches, hiking trails, restaurants and close to Pacific Coast Highway.
What we like about this Trust Deed opportunity:
Good condition SFR in Pacific Palisades with panoramic views
