Business owner sought a 1st Trust Deed business-purpose cash-out loan on a free-and-clear, non-owner-occupied newly constructed barn-style residence estate designed for weddings and entertainment events in the wine country of Santa Rosa, Sonoma County, CA. The property currently has no existing debt. Loan proceeds will be used to buy out the borrower’s partner from the investment property. Funds will be sent directly to the ex-partner through escrow in conjunction with a quitclaim deed transferring 100% ownership to the borrower.
Property Description:
The subject property is a newly constructed custom barn-style residence situated on approximately 7.16 acres in the wine country of Santa Rosa, Sonoma County, CA. The subject totals 2,224 SF of event rentable space, consisting of a 1,271 SF two-story residence with 1 bedroom and 1 bathroom, and a 953 SF attached custom party barn that includes an additional half bathroom. The property features modern construction with vaulted ceilings, custom finishes, a modern kitchen, and mini-split HVAC, while the party barn includes timber interior finishes, a wet bar, and laundry area, suitable for weddings and entertainment events. Additional amenities include a large patio area, gated access, and convenient proximity to Highway 101, wineries, restaurants, and hotels. Property is well positioned for event hosting in Sonoma County’s wine country. The borrower has established partnerships with local hotels and catering companies to host events at the property, with projected event income estimated at approximately $20,000–$25,000 per month
What we like about this Trust Deed opportunity:
- 11.50% on a 1st TD Newly constructed subject in desirable wine country
- Newly constructed subject in desirable wine area
- 3 months Prepaid Interest
- 6 months Guaranteed Interest
