Borrowers sought a 1st TD to help complete the purchase of this 14-unit multi-family property in Anaheim in Orange County. The borrowers have a high level of real estate investment experience in and around the Orange County area covering both residential and commercial real estate. The exit strategy from our loan is a commercial bank refinance after slight improvements to the property and rental increases. Borrower needs this private money loan now to close quickly on this highly desirable and sought after property.
The subject property is a 14-unit apartment building with two freestanding buildings and gated courtyard. The buildings are 2-stories with good “class D” quality construction and are in excellent condition. The building measures 9,300 SF and is situated on a 17,177 SF rectangular lot with 120 feet for street frontage. The unit mix consists of 10 – 1 BR & 1 BA units and 4 – 2 BR & 1 BA units. Each unit comes with a garage and there are additional onsite parking spaces as well as ample street parking on the cul-de-sac street. Laundry facilities are available in the building and is paid by the tenant. Parks, schools, shopping and major freeways are all just a few minutes away from the subject property.
Recent Transaction – $1,800,000 Business Purpose, Anaheim, CA 92801