Repeat MVI borrower, president/owner of downtown San Diego family law practice and real estate investor sought a 1st TD business purpose cash out refinance loan on this 106.16 acres of land in the heart of Temecula’s Winery Region and just 13 minutes east of downtown Temecula in Riverside County, CA. The borrower inherited the property and the purpose of these funds will be to pay off an existing, in good standing Mortgage Vintage 1st TD and the balance of funds will be invested into completing the costs associated with dividing the one large 106.16 acres parcel into 5 separate saleable parcels. The subject property is zoned R-A, Residential Agricultural within the Temecula Wine Country Policy Area. Exit strategy: sale of property parcels.
This 1st Trust Deed offers 18 Months Prepaid Interest with $6,693,790 net protective equity to investors off new $7.8 million As Is appraisal.
The subject property is very well located with considerable street frontage along high traffic Anza Road in the heart of Temecula wine country, surrounded by popular wineries, near the Temeku Hills Golf and Country Club, near downtown Temecula, Pechanga Casino Resort and Lake Skinner. The subject property is currently one large parcel of 106.16 acres, or 4,624,329 SF that will be divided into 5 saleable parcels. Future prospective buyers will have numerous uses of land options in zoned area: develop Class 5 or 6 Winery, develop homes, equestrian facilities and/or purchase multiple parcels to develop resort. The subject property is served by the Interstate 15, Interstate 215 and California State Route 79. (Winchester Road to the northeast and Temecula Parkway to the southeast).
What we like about this Trust Deed opportunity:
- Successful repeat MVI borrower, professional business owner and real estate investor
- Temecula centrally located wine country subject property
- 17.95% LTV, 14.18% Net LTV on Recent Appraised Value
- 12.50% Annualized Investor Return
- 6 months Guaranteed Interest
- 18 months Prepaid Interest
- $6,693,790 net protective equity to investors
