Business owner was seeking a cash-out 1st TD on this owner occupied SFR in Los Angeles County. Proceeds from this loan were to be used to invest back into the borrower’s mobile mechanic business, Mireles Mobile Mechanic Service. Borrower has owned this business for 24 years.
Subject property is a single-story SFR situated on a 7,061 sqft lot in the Irwindale. The subject was built in 1995 and has 1,428 sqft of living space with 4 bedrooms and 2 baths. The home features a living room, dining room and converted expanded master bedroom. Subject is conveniently located near schools, shopping, parks and medical facilities and the Santa Fe Dam Recreation area. The I-210, I-605 and I-10 are each a short drive away.
Recent Transaction – $285,000 Business Purpose Cash Out Re-fi, Irwindale, CA
