Real Estate investor and business owner was seeking a business purpose cash-out 2nd TD on this owner occupied property to use for property improvement, working capital and marketing for Rancho Remuda, the property owner’s bed & breakfast and horse breeding, training and boarding facility.
Once owned by Cary Grant, the subject property was the first ranch house in the Coachella Valley and consists of three 10-acre parcels. The house and casita, two garages, workshop, riding arena and barn are all on parcel 764-310-010. The other two parcels are both irrigated pastures with new/improved fencing for the horses. Each parcel is flood irrigated, fenced and cross fenced with plenty of shade trees and good gates. Current monthly rents are $1,000/month for the mobile home, $800/month for the west wing of the main dwelling. The casita rents for $100/night, $300/night during the Coachella Music Festival.
Recent Transaction – $295,000 Business Purpose Cash-Out Re-Fi, Thermal, CA
