Real estate investor, long time land owner and CEO of Rightime Enterprice was seeking a business purpose cash-out refi on these 5 parcels of vacant land. Loan proceeds were used to payoff existing 1st & 2nd liens. The cash-out portion of the funds were used to cover current architectural and engineering fees as well as other project soft costs.
Our subject property comprises 5 vacant lots that will eventually be the sites of 5 beautiful single family homes with sweeping panoramic views of Universal City, Studio City and the San Fernando Valley. The property is situated in the hills above Universal City, Studio City and the Valley. HWY 101, Ventura Blvd., and Mulholland Drive are all a short distance away. Schools, recreations, shopping, restaurants and medical facilities are within close proximity of the subject.
Recent Transaction – $1,250,000 Business Purpose, Los Angeles, CA
