Real estate investors sought a 1st TD Cash Out refinance loan on this non-owner occupied, SFR investment property in Los Angeles, Los Angeles County, CA. The use of funds will be to pay off an existing 1st TD and a balance will be used for minor upgrades to subject property.
Subject property is a bungalow, 1 story SFR with 1,072 SF living space, 5 total rooms, 2 Bedroom, 1 Bath, living room featuring a nice porch on a large 9,110 SF lot in Los Angeles, CA. The subject property is surrounded by similar SFRs and multi-unit properties. It is close to shopping, schools and transportation. It is within a short drive to the new NFL stadium in Inglewood as well as USC and all the shopping and entertainment venues found there, It is also on the border to the industrial and commercial district found on the east side of the city where there’s a large concentration of jobs. The investment property is fully occupied with a tenant paying $2,600 a month.
What we like about this Trust Deed opportunity:
- Los Angeles, suburban SFR
- 31.91% LTV / 31.04% Net LTV
- Fully Occupied with tenant, earning $2.6K month
- 9.00% Investor Rate
- 6 months Guaranteed Interest
- 3 months Prepaid Interest
$150,000 1st TD @ 9.00%, SFR, NOO, 24 Mos., 34.51% LTV, $50k Min, 6 mos Guar. Int., Los Angeles, CA