Current and successful Mortgage Vintage client wanted a business purpose cash out to consolidate the existing 1st and 2nd mortgages and to invest in his business. Borrower has owned the property for several years.Subject is an 8,136 s.f. single story retail multi-tenant center located in the the High Desert. The Property sits on a 15,300 s.f. lot and had an extensive remodel in 2003/2004. Property is located off the main highway and has excellent visibility from the 29 Palms Hwy. Tenants are a mixture of well established long term tenants providing gross rental income of $5,919.52/mo. There is currently one vacant suite and the Borrower is in negotiations to possibly lease the space. The Property has a parking ratio of 4.7/1,000 s.f. with approximately 29 uncovered parking stalls.
Download Recent Transaction – $426,000 Business Purpose, Yucca Valley CA
