Long-time business owners were seeking a business purpose cash-out 2nd TD on this owner occupied SFR in Monrovia in LA County. Proceeds from our loan will be used to help open a new location of the borrower’s restaurant business, Puebla Tacos.
The subject property is a single level traditional style home sitting on a 6,888 SF lot with a 2-car attached garage. The home is 1,293 SF with 7 total rooms and 3 BR/2 BA. Schools, shopping, restaurants, recreation and medical facilities are all nearby. The 210 & 605 Freeways are within close proximity to the subject property. The 1st TD is held by Shellpoint at 5.00%.