704 fico score real estate investor, long time land owner and 25-year CFO of ENCORE Plastics in Huntington Beach was seeking a business purpose cash-out refi on these 2 parcels of vacant land. Loan proceeds were used to cover project soft costs including legal fees, engineering costs, consulting fees and to secure easements for access to the parcels.
The subject property is 10.7024 acres and comprises two vacant parcels that will eventually be two individual home sites spread over 8.028 buildable acres. The land is situated in the hills above the City of Beverly Hills in the 90210 zip code. Currently there is not an access road to the parcels. Two easement sites have been identified and the land owner is currently working to obtain one, if not both, of the easements. Funds Control of $450k to be held and distributed by BuildZig.
Recent Transaction – $1,200,000 Business Purpose Cash out Re-fi, Beverly Hills, CA
