Longtime successful real estate investor and business owner sought a business purpose cash-out 2nd TD on this non-owner occupied 2-Unit in Woodland Hills, Los Angeles County, CA. Proceeds from our 2nd position loan will be used to expand his business, Homepro Remodeling and Construction, Inc.
The property is comprised of a single family residence with an attached ADU. The total square footage of the home is 1,614 and sits on a very large 7,500 SF lot. There are 9 total rooms including 4 bedrooms and 3 bathrooms. The subject is in a nice suburban area of Los Angeles county in close proximity to schools, shopping, restaurants and medical facilities. Total monthly rent for both units is $4,950. The conventional 1st TD of approximately $490,000 @ 2.99% has a monthly payment of $3,053.
What we like about this Trust Deed opportunity:
- Non-Owner Occupied Investment Property
- 11.50% annualized return
- $4,950/month rental income
- 6 months Guaranteed Interest, 3 months prepaid interest