Repeat, current Mortgage Vintage borrower with several successful transactions with MVI and a highly experienced builder/developer was seeking a business purpose cash-out 1st TD of these two vacant lots with approved plans in Anaheim, Orange County. Funds from our loan will be used to develop the lots into two single family residences with two ADU units.
Upon completion 10971 & 10972 Huber St. will both be homes of 1,647 SF with 4 BR/3 BA each and attached 2-car garages. Each home will feature an ADU with 2 BR/ 1BA and 516 SF. Each of these homes and ADU’s will be equipped with the latest in fire resistance technology as well as modern and energy efficient windows, lighting, plumbing and electrical. The subjects are located near Disney Land and the Anaheim Convention Center as well as the 5 freeway.
This loan is 45.00% LTV on the combined BPO value of $850,000.