Group of experienced real estate investors sought a 1st TD loan to purchase this non-owner occupied, Duplex, investment property in Los Angeles, CA. Borrowers are putting down $115k personal funds “skin in the game” towards the purchase of this investment property. This group of investors have flipped several properties in the greater Los Angeles area and have more than enough liquid assets to covers all of the costs of the rehab plus more. This rehab will add 300 Sq Ft to the main unit, 195 Sq Ft to the 1/2 unit and transform the garage into a Jr. ADU. The exit strategy is to sell the property at +$750,000.
The subject property is a contemporary styled, one story duplex with 1,218 SF living space on a 5,802 Sq Ft lot. It is comprised of two separate homes – one with 2BR/1BA and one with 1BR/1BA and a one car garage off alley. The subject property features a large front yard area, alley access and is gated all around. It is located next to shopping, schools, transportation and medical facilities. It is located a few miles south of Downtown LA and all its entertainment and shopping venues as well as USC’s. It is also a few miles East from the city of Inglewood with its entertainment and shopping venues as well as LAX. Borrowers plan to do an out-of-pocket remodel and build an ADU on lot in future for additional rental income.
What we like about this Trust Deed opportunity:
- Property not far from brand new SoFi Stadium
- Borrower has approx. $115k “skin in the game”
- 75.00% LTV on Purchase & BPO
- Experienced Investor
