Borrowers sought a small 125K 2nd Trust Deed business purpose cash out loan on this owner-occupied SFR in Huntington Beach, Orange County, CA. Loan proceeds will be used to finance expanding sales and marketing activities for borrowers’ wholesale building products business that services local small to medium sized developers.
The borrowers $498K 1st TD is a conventional loan, 30 year @ 2.625% fixed rate which is current and in good standing. Exit strategy: conventional refinance
The subject property is a two-story, traditional suburban, SFR in a desirable beach community neighborhood just 3 miles east of Huntington State Beach, CA. The subject property features a total of 11 rooms, 4 Bed / 2 Bath, a den, bonus room, courtyard with 2,545 SF living space on a 5,520 SF lot. The subject property is very well located, near several Huntington Beach beaches, downtown HB shopping/restaurants, near popular family friendly “Fairview Park” and just walking distance to local “Hawes Elementary School”. The subject property is just east of PCH 1 Hwy and west of the 405 Fwy.
What we like about this Trust Deed opportunity:
- Beach community, Suburban SFR in Huntington Beach, Orange County
- 10.50% Investor Yield
- CLTV: 47.98%
- Redfin Value: $1.578M
- $676K Gross Investor Protective Equity
- 6 Months Guaranteed
- 6 Months Prepaid