Loan Purpose
- Refinance and consolidate existing debt secured by 1820 W. Martin Luther King Jr. Blvd.
- Business-purpose cash-out loan structured as non-owner occupied
- Loan proceeds primarily used to pay off existing first and second liens
- Limited net cash to borrower after payoff, fees, and prepaid interest
- Structured as a short-term bridge rather than a construction or heavy renovation loan, property listed for sale on 4-2-26 at $799,000
Property Description
Completely remodeled property in a prime USC / Exposition Park border location, just minutes from Downtown Los Angeles, USC Village, BMO Stadium, and the LA Coliseum. This renovated home has been extensively updated inside and out, offering modern finishes and flexible living space ideal for owner-occupants or investors. The main residence features luxury vinyl plank flooring throughout, quartz countertops, new drywall and interior finishes, fresh paint, and a newly added full bathroom, new energy efficient windows and doors creating a clean and contemporary living environment. The detached single-car garage has been converted into a studio guest house, complete with bedroom/living area, and full bathroom. Located near Exposition Park, the property offers convenient access to USC, Downtown LA, major transit lines, shopping, dining, and entertainment. A rare opportunity to own a fully upgraded home with an additional living unit in one of Los Angeles’ rapidly developing central neighborhoods.
The collateral is a residential property in Los Angeles secured by a 1st Trust Deed. This is a single-family residence + ADU, with LARD5 zoning. The property includes approximately 1,397 square feet, built in 1922, on a 5,732 SF lot, with an As-Is value of $780,000 and a location described as urban with good access to major Los Angeles demand drivers, although on a high-traffic street. Based on the As-Is value, the new CLTV/LTV is approximately 65.00% ($507,000 ÷ $780,000), and the investment is collateralized by a first-position lien.
What We Like
- First-position lien provides primary collateral control
- Moderate leverage profile at approximately 65.00% CLTV based on As-Is value
- Meaningful equity cushion at origination supported by BPO valuation
- Market comps and listings support value in the high-$700,000 to low-$800,000 range
- Estimated ~65-day marketing time suggests reasonable liquidity
- Property shows recent remodel
- LARD5 zoning and SFR + ADU characterization may provide additional flexibility (subject to verification)
