Real estate investor and business owner sought a $495,000 1st Trust Deed business purpose cash out refinance loan on this investment property Triplex in Gardena, South Bay Region of Los Angeles County, CA. The use of funds will be to pay off an existing and in good standing $200,000 1st Trust Deed and also existing and in good standing junior liens borrower took out for previous property upgrades, remaining cash out after payoffs will go towards growing borrower’s non-residential management company based out of Hawthorne, CA.
The subject property is a traditional style, Triplex in good condition featuring three units, each with 2-bedrooms, 1 Bath and an attached 1-car garage per unit. The subject property is a single story with a fenced yard. The total living space SF is 1,980 on a .16 SF lot. Subject property has a total of 12 rooms, 6 Bed and 3 BA. Two of the units are fully occupied earning a total of $4,850 combined monthly rental income. The borrower occupies the 3rd unit.
The subject property is well located just off the 110 FWY and near the 405 interchange. The subject property is nearby many restaurants, shopping and walking distance to the Gardena Elementary school.
What we like about this Trust Deed opportunity:
- 1st Trust Deed on good condition Triplex; earning rental income
- 60.00% LTV and 54.38% Net LTV
- 11.00% Investor Rate
- 9 months Prepaid Interest
- 6 months Guaranteed Interest
$495,000 1st TD @ 11.00%, 60.00% LTV, Triplex, CO, OO, $49,500 Min Investment, Gardena
