Borrower is long time business owner/real estate developer who was seeking a cash-out 2nd TD on this owner occupied Studio City property to invest back into two real estate projects. One SFR rehab project located at 14533 Valley Vista in Sherman Oaks, CA is coming to a close but still has expenses to be covered until the property is sold. The second is a construction project located at 498 Monrovista Ave. in Monrovia, CA and is just getting started.
The subject property is a beautiful and well maintained home in Studio City, located in LA County. The 2-story traditional style home sits on a 7,886 SF lot. Subject property has 7 total rooms and 4 BR/4 BA. The subject features a dining room, living room, family room, fireplace, enclosed patio and in-ground swimming pool/spa. The subject is near a wealth of shopping, dining and cultural activities as well as schools, recreation and medical facilities. The 101 Ventura Fwy and Hwy’s 134 and 170 are just a few minutes drive away.