Real estate investor and long-time employee with the same company was seeking a new 1st TD on this LA County 4-unit non-owner occupied property to refinance the existing 1st TD and make minor repairs and upgrades to the subject property.
The subject property is a fully rented 4-unit property in Inglewood. Built in 1950, the property owner has owned this investment since 2006. The subject consists of 12 total rooms with 8 bedrooms and 4 bathrooms. Subject is located near the I-405, schools, shopping, restaurants and medical facilities. Current monthly rental income is $3,100.
Recent Transaction – $393,750 Business Purpose Cash Out, Inglewood, CA