Long time business owner was seeking a cash-out 2nd TD on this beautiful Westchester SFR in Los Angeles to payoff an existing 2nd & 3rd and cash-out for his business. Borrower owns a successful landscape company specializing in design, maintenance and construction: http://brownlandscapeco.com/. The loan proceeds from our MVI loan will be invested back into the landscape business in the form of manpower, vehicles and equipment.
The subject property is a beautiful and well maintained home in the Westchester area of Los Angeles. The 2-story traditional style home sits on a large 11,745 SF lot. The home itself is 3,414 SF with 10 total rooms and 5 BR/5 BA. The subject features a dining room, living room, family room, fireplace, rooftop deck with views and in-ground swimming pool/spa. The subject is close to shopping, dining and cultural activities as well as schools, recreation and medical facilities. The 405 fwy and Sepulveda Blvd are nearby as well. The kitchen is currently being remodeled and expanded. None of the funds from our MVI loan will be used for that project.
Recent Transaction – $564,000 Business Purpose, Los Angeles, CA 90045
