Successful real estate investors and previous Mortgage Vintage Borrowers are seeking a 1st TD Refinance loan on this non-owner occupied Duplex rental property in Fullerton, Orange County, CA. Borrower is taking cash-out of a 22 Unit Apartment Building they own free and clear in Anaheim and is using those cash out proceeds to pay down and pay off the existing loan on this Fullerton SFR to this new 44% LTV.
The subject property is a 2 unit, 1,600 SF Ranch style investment property sitting on a .36 acre lot. The front unit has 4 Bed / 2 Bath and the back unit has 2 Bed / 1 Bath with a 1-car attached garage. The front unit earns $3,500 mo./rent; the back unit earns $2,200 mo./rent. The property is well located North of the 5 FWY and 91 FWY and is centrally located close to schools, shopping, and transportation. Exit strategy from our loan is a conventional refinance.
What we like about this Trust Deed opportunity:
- 44.40% LTV
- Previous Mortgage Vintage Borrowers
- 6 months guaranteed interest
- Current total monthly rental income: $5,700