Borrower, and long-time owner of the Property, was seeking a business purpose cash-out refinance loan to payoff existing 1st TD, make repairs to the property, and payoff other debt.Subject is a 1 story, 5 unit Multi-family property in Hanford, CA (near Fresno). The Property is 100% occupied, rental rates ranging from $800 to $1,150. The Property is in a well-established neighborhood within ¼ mile of Hanford High School and the Hanford central business district within ½ mile south of the property. All units received a major renovation including new exterior paint and roofing within past 12 months. Two units are both planned for a new bath and kitchen updates

Download Recent Transaction – $230,000 Business Purpose, Hanford, CA