Loan Summary
Borrower and real estate investor sought a 2nd TD business-purpose cash-out loan secured by a recently updated, Colonial-style, owner-occupied single-family residence located in a prime Pasadena neighborhood in Los Angeles County, CA. The subject property is a large estate home in a high-demand luxury submarket. Loan proceeds will be used as working capital for the borrower’s real estate business, specifically to fund permits and entitlements for the development of townhomes on a separate free-and-clear land parcel in El Monte, CA.
The 1st TD loan is current, in good standing with a principal balance of $3,489,248 with a 7.375% fixed 30 year rate, a PITI monthly payment of $27,061, maturing in November 2055.
Property Description:
The subject property is a highly desirable Colonial-style, two-story single-family estate located in a prime Pasadena neighborhood, featuring an expansive 8,495 SF residence on a rare 0.57-acre (25,026 SF) lot. The home offers 10 bedrooms and 5.5 bathrooms, with a functional large-scale layout and a recently updated interior, including a modernized kitchen and bathrooms completed within the past year. Amenities include a resort-style pool, patio and porch areas for indoor/outdoor living, a 3-car garage with additional driveway parking, and a fully finished basement (1,300+ SF) featuring a theater, recreation room, wine cellar, and additional bath. The surrounding neighborhood is characterized by a mix of luxury estates and well-established residential properties with strong comparable sales, stable market conditions, and short marketing times, reflecting solid demand for high-end homes in the area. The property was appraised at $9,380,000, in March 2026. We ordered an independent appraisal review this week and it concluded $7,700,000. This loan is using the lower $7,700,000 appraised value.
What we like about this Trust Deed opportunity:
- Beautiful, colonial style SFR, newly redone in 2025
- Desirable Pasadena neighborhood
- 12.00% Investor Rate
- 1st TD fixed rate PITI 30 year mortgage in good standing loan
- Borrower and real estate investor
- 6 months Prepaid Interest
- 6 months Guaranteed Interest
$900,000 2nd TD @ 12.00%, SFR, 57.00% CLTV, 24 mo., OO, $50,000 Min., 6 mo. guar. int., Pasadena, CA
