Loan Purpose
Real estate investor sought a 1st / 2nd TD blanket loan to purchase this investment condo property on the golf course in the Monterey Country Club community of Palm Desert, Riverside County, CA; borrower is using his SFR investment property in San Clemente, Orange County, CA as business purpose cash-out collateral. The 1ST TD on the San Clemente property is current and in good standing with $653,205 balance, 4.375% fixed rate, $3,381 PITI monthly payment maturing in 2037.
Property Description
The San Clemente subject investment property is located in the desirable beach town of San Clemente, CA. The subject is a single story, SFR, ranch-style residence situated in a well-established coastal Orange County neighborhood with strong owner occupancy and limited inventory. The SFR offers approximately 1,750 square feet of living space with 2 bedrooms and 2 bathrooms, positioned on an 8,370 sq. ft. lot and featuring an attached two-car garage, fireplace, and backyard spa. The property is currently occupied and in good overall condition, with solid structural, roof, and HVAC systems. The BPO supports an as-is market value of $1,750,000. The property is leased for $4,900 a month. The subject is well located near the 5 FWY, local beaches, schools, restaurants and shopping.
The Palm Desert subject is a single story condo on the golf course in the Monterey Country Club neighborhood. The subject consists of 1,670 square foot of living space, 3-bedroom, 2-bath home with an attached two-car garage, fireplace, enclosed atrium, and patio space. The subject is well located with close proximity to Monterey Avenue, providing convenient access to shopping, freeway corridors, and downtown Palm Desert amenities. The neighborhood demonstrates stable pricing trends. Borrower intends to rent the subject for $3,500 monthly market rental income.
What we like about this Trust Deed opportunity:
- Real estate professional and investor
- Good condition and well-located properties in San Clemente and Palm Desert
- Protective Combined Investor Equity $1,061,795
- 1st TD mortgage with low fixed rate on San Clemente
- 6 months Guaranteed Interest
