Successful Mortgage Vintage Inc. borrower and real estate investor sought a 1st TD loan to purchase this non-owner occupied, SFR investment property in Santa Ana, Orange County, CA.  Borrower owns multiple rental properties in Santa Ana.  Borrower is putting down approx. $170,000 of their own money towards this Purchase.

The subject property is a SFR with 960 SF of total rentable living space that is split into 3 units on a .23 acre lot. The subject property features a built-up basement with 3 bedrooms, kitchen, living room, dining area, and 1 bathroom. Structure on the back has 2 bedrooms, dining area, kitchen, and 1 bathroom. Above the basement front house, there are 2 bedrooms,1 bathroom, kitchen and living room. The subject property is well located west of the 5 FWY and N. Bristol Street, near Downtown Santa Ana, and nearby Santa Ana college, schools, shopping centers, parks, restaurants, banks, and medical offices.  The property is zoned SFR but, similar to other properties in Santa Ana, has multiple rental units and a lot size of 10k s.f. which could potentially allow for a permitted ADU.

 

$495,000 1st TD @ 7.50%, 75.57% LTV on Purchase, SFR, 36 Mo. Term, 6 mo. Guar., $49,500 Min., Santa Ana, CA

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