Borrower sought a business purpose cash-out 2nd TD on this owner occupied SFR property in Encino, Los Angeles County, CA. The funds from our loan will be used to launch borrower’s online retail clothing and provide working capital for his existing photography company.
The subject property is a contemporary, one story SFR in good condition, located in the high-end neighborhood of Encino, Los Angeles. The subject property has 4,589 SF of living space in the main SFR and 800 SF living space in a backyard guesthouse that sit on a large 10,222 SF lot. The subject property features a recently refinished pool and spa. The main SFR subject property has 5 total rooms with 3 BR/2.5 BA and 2 car attached garage. The subject property is well located north of Ventura Blvd, near lots of shopping, restaurants, top-rated schools and parks.
What we like about this Trust Deed opportunity:
- High-end neighborhood in Encino, Los Angeles
- 9.00% Annualized Return
- 24.50% CLTV and 24.05% Net CLTV on conforming SFR
- 6 Mos. Guaranteed Interest
- 6 Mos. Prepaid Interest