Loan Description:
Real estate investor and flipper sought a $115,000 2nd Trust Deed business purpose cash out loan on a recently renovated SFR in Mammoth Lakes, Mono County, California. The funds from this loan will be used for working capital until the investment property is sold. The 1st trust deed is in good standing, with a balance of $583,269, a 7.99% fixed interest rate, monthly PITI payment $5,849, maturing February 2054.
Property Description:
The subject property is a recently renovated SFR investment property in Mammoth Lakes, CA with scenic forest views. The subject is a bi-level residence located in-town within a desirable resort market. The SFR offers approximately 1,474 SF of living area with 3 bedrooms and 2 bathrooms, situated on a 0.17-acre lot with an attached two-car garage and additional bonus/basement space. The property is in excellent condition, with recent upgrades including new flooring, remodeled kitchen with new appliances, updated bathrooms, electric wall heaters in each room, instant hot water heater, new washer/dryer, and extensive exterior improvements such as new decking, railings, doors, windows, and fresh finishes. The subject is currently vacant and is currently listed for sale. The SFR is centrally located in the scenic Mammoth Knolls neighborhood of Mammoth Lakes, Nearby amenities include world class skiing and snowboarding at Mammoth Mountain, extensive hiking and biking trails, lakes, golf courses, and dining options in Mammoth Lakes Village. The property also offers convenient access to Main Street and major roadways, making it an ideal location for a primary residence, second home, or investment property in one of California’s most desirable mountain destinations.
What we like about this Trust Deed opportunity:
- 1st TD in good standing with low 7.99% fixed rate through Feb 2054
- 3 Months Prepaid Interest
- 6 Months Guaranteed Interest
