Real estate investor was seeking a cash-out 1st TD on this non-owner occupied SFR in La Verne in Los Angeles County. Our MVI loan paid off an existing 1st TD as well as provided cash-out to make repairs to the same property and payoff student loans.
The subject is a traditional style single level home with 6 total rooms and 3 BR/1 BA. The home is 912 sqft and sits on a 6,850 sqft lot. The property does have an un-permitted room addition. The un-permitted addition has not been factored into the value or square footage of the property. The subject is close to La Verne University, schools, parks, shopping, restaurants and medical facilities. Hwy 66 and the 210, 10 and 57 freeways are each within a few minutes drive of the subject property. Rental income is currently $2,300/month.