Real estate investor and long time business owners sought a business purpose cash-out 2nd TD on this non-owner occupied SFRs on one lot in Rancho Cucamonga. Proceeds from our loan will be used to bring in entitlements for what will be the future site of a 17 unit home development.
The subject property is a traditional style duplex located in Rancho Cucamonga in San Bernardino County. The property comprises two single-story single family residences. SFR #1 is 1,200 SF with 6 rooms and 3 BR/2 BA and a 2-car attached garage. SFR #2 is 6 rooms with 3 BR/1 BA. The subject is near schools, shopping, restaurants and medical facilities. Interstate 15 is just a few minutes away. Total monthly rent for both units is $3,500. 1st TD is at 4.0%.