Successful real estate investors and previous Mortgage Vintage Borrowers are sought a business purpose cash-out 1st TD on this “Free & Clear”, NOO, 100% Rented, 22 Unit Multi-Family Residential building in Anaheim, CA. The funds from our loan will be used to pay down loan amounts on 3 other real estate investment properties borrowers own and are presently Refinancing through Mortgage Vintage Inc.
The subject property is a two story, garden style, Multi-Family residential building known as “Cypress Meadows Apartments”, its a well maintained 22-unit apartment community located in a strong rental market of Anaheim, California. The subject property sits on a 31,950 square foot lot with 16,700 SF of rentable space.
All units are separately metered for gas and electricity. The subject property features ample on-site parking (including 29 enclosed garages and spaces), on-site, building owned laundry facility, community pool, BBQ/picnic area, gated/secured apartment community and yards/patios. The property has easy access to 91 & 5 FWY, major retail, job centers and schools.
Current total monthly rent & laundry fees earned on property is $36,850.
This is a 12.15% LTV based on an 2019 appraised value of $5,350,000 when borrowers purchased property “Free & Clear” using 1031 exchange funds after selling their Hotel in Arizona.
Loan structure features 4 months Guaranteed Interest. Minimum investment for this Trust Deed is $65,000 or 10.00% fractional interest at a 6.25% annualized yield return.
What we like about this Trust Deed opportunity:
- Subject Property Free & Clear
- 12.15% LTV
- Experienced Real Estate Investors
- In Demand Rental Location
- 4 months Guaranteed Interest