Business owners sought a $650,000 business purpose 2nd Trust Deed loan on this owner-occupied single-family residence in Pacific Palisades, Los Angeles County, CA. Loan proceeds will be used to 1) payoff an existing 2nd mortgage; 2) payoff some tax liens; and 3) will be used towards the Borrower’s Biotechnology Business’ (Aicher, Inc. et. al). In addition to owning his own consulting firm, borrower is also the Executive Chairman, COO, and Executive Director of a number of Biotechnology medical research companies.
The subject property, built in 2000, is located in a gated community with 11 luxury homes called Huntington Woods and sits at the end of the cul-de-sac. The property is well-maintained and shows the normal wear and tear of its timeless beauty. The interior of the house is spacious and well-appointed, with 5,500 sf of living space and has 5 bedrooms and 5.5 bathrooms. The master suite is a sanctuary unto itself, offering a private retreat where you can unwind and rejuvenate in style. Each bedroom is thoughtfully designed, offering privacy and comfort for any occupants. The property boasts a number of magnificent outdoor amenities, including a swimming pool, jacuzzi, lush landscaping, and a guest house which reflects in the higher demand and uniqueness. The generous .27 acre lot size provides ample room for expansion. The property is located just steps from the Palisades Village’s that offers glamorous restaurants and stores.
What we like about this Trust Deed opportunity:
- Pacific Palisades Location
- Business owners
- Very low 46.86% CLTV, 46.61% Net CLTV
- 12.00% Lender Rate
- 3 months Prepaid Interest
- 6 months Guaranteed Interest
$650,000 2nd TD @ 12.00%, 46.86% CLTV, SFR, OO, $65,000 Min Inv., 24 mos., Pacific Palisades, CA
