Investment Scenario: 788 credit score borrower and long-time business owner was seeking a business purpose 1st TD to purchase this industrial building in Fullerton, CA in Orange County.
The subject property was a 12,000 SF industrial building with 3 tenants – 100% occupancy. The building was 12,000 SF. Each unit offered an entrance from East Ash Ave., a rear entrance, 2 restrooms, a warehouse with metal roll up doors, a clear height of 16 feet, and were each built out with approx. 20% of interior office space. The Property was well located and designed with adequate considerations for utility and functional factors related to tenancy.
This loan was 60.00% LTV on the purchase price of $2.364M. Loan structure featured 6 months Guaranteed Int. and 8.50% annualized return. Minimum investment was $141,840 or 10%.
