30-year business owner was seeking a cash-out 2nd TD of this owner occupied SFR in Bell Canyon in the San Fernando Valley. Proceeds from this loan were used to invest back into his television production business, MelliTV.com.
Our subject property is located in the private, gated community of Bell Canyon in the San Fernando Valley on the Ventura County/LA County border. The owner bought this property at auction in December of 2017 for $873k. The subject has since been remodeled and upgraded. Both an appraisal and BPO put the value of this property at $1.5M. The subject was built in 1970 and has 1,252 sqft of living space with 4 bedrooms, 3.5 baths and 2-car detached garage. The property features beautiful canyon and mountain views and a refurbished pool and spa. Schools, shopping, restaurants, medical are located nearby as well as HWY 101 and HWY 27.
Recent Transaction – $130,000 Business Purpose Cash Out, Bell Canyon, CA
