Borrower was seeking a business purpose cash-out on this non-owner occupied rental property to make improvements to the property and to invest in other investment property. Borrower has owned the property since 2006.
Subject property is a two story Single Family Residence located in the La Canada Flintridge area of Los Angeles. The home is 3,750 sf with 4 bdrm/3ba. The home was remodeled in the last 5 years turning it into a beautiful modern architectural style home. The property features spectacular views, in-ground pool, outdoor gym, fire pit, built-in grill, fire place, and gourmet kitchen.