Successful real estate investors and existing, current Mortgage Vintage borrowers sought a business purpose cash-out 2nd TD on this NOO, 100% Rented, 22 Unit Multi-Family Residential building in Anaheim, CA. The funds from our loan will be used as a down payment on a 4-Plex real estate acquisition also in Anaheim, CA. Borrowers existing, current 1st TD is 650k and held by Mortgage Vintage Inc.
The subject property is a two story, garden style, Multi-Family residential building known as “Cypress Meadows Apartments”, it is 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.
What we like about this Trust Deed opportunity:
- Successful Mortgage Vintage borrowers
- 15.89% CLTV
- Experienced Real Estate Investors
- In Demand Rental Location
- 6 months Guaranteed Interest
- 8.25% investor yield
