Successful, existing Mortgage Vintage Inc. borrowers and experienced real estate investors sought a 2nd TD business purpose cash out loan on this non-owner occupied SFR rental property in Garden Grove, Orange County, CA. The funds from this loan will be used towards a down payment on borrowers’ recent 10 unit apartment building real estate acquisition in Stanton, Orange County, CA.
The subject property is a traditional style, SFR on a .17 acre lot Garden Grove, CA. The SFR has 2,025 SF of living space, 8 total rooms, 5 Bed / 4 Bath and a 2 car attached garage. The subject property has an unpermitted addition that the buyer is working on getting a permit for with the new ADU laws. The property is fully occupied with the tenants paying $6,000 mo./rent. The property is well located just north of the Garden Grove (22) FWY and 405 FWY intersect. The subject property is also near many schools, restaurants, shopping and parks.
What we like about this Trust Deed opportunity:
- Successful Mortgage Vintage Borrower
- Experienced Real Estate Investor
- SFR fully occupied + Addition / $6,000 mo./rent
- 9.00% yield
$370,000 2nd TD @ 9.00%, 68.98% CLTV, SFR, 24 mos., 6 mos. Guar., Garden Grove, CA
