Real Estate Investor and previous Mortgage Vintage borrower sought a cash-out refinance 1st TD on this “free and clear” mixed use office/residential condominium property in Santa Ana, CA in Orange County. The property is currently, and has since inception, being used as the Headquarters for Caboraca Investments, Inc. which is a Real Estate Brokerage and Construction Co. founded by our borrower. Funds from our loan will be used as working capital to invest in other real estate opportunities. Borrower is an experienced fix and flip investor and developer with a track record of over 8 successful loans with Mortgage Vintage.
Subject property is a Class B mixed use office/residential condominium located in the heart of Santa Ana. The property was built in 2011. The Property is configured to house 1 tenant and could be used for living and work space, however, the space is currently used strictly for work space. The highly upgraded unit offers recessed lighting, title floors, a fully upgraded kitchen, 6 offices, 4 cubicles, 2 bathrooms, and a reception area. On site parking consists of 8 marked asphalt paved spaces.
What we like about this Trust Deed opportunity:
- Successful MVI borrower and Real Estate Investor
- Highly desirable Downtown Santa Ana, Orange County location
- 773 credit score
- 62.40% LTV