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

$200,000 2nd TD @8.25%, 15.89% CLTV, Cash-Out Refi, SFR, 24 Mos Term, $50,000 Min Investment, Anaheim, CA

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