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$1,850,000 - 1st Trust Deed

1833 19th St., Santa Monica, 90404

INVESTMENT STATUS

Investment Status:

Fully Funded

Loan Amount:

$1,850,000

Amount Funded:

$1,850,000

Amount Available:

0

INVESTMENT DETAILS

SENIORITY OF LOAN:

1st

PROPERTY VALUE:

$3,850,000

EXISTING DEBT ON PROPERTY:

$0

LOAN AMOUNT:

$1,850,000

LOAN TO VALUE (LTV):

48%

NET INVESTOR YIELD:

10.5%

MONTHLY NET TO INVESTOR:

$16,187.50

TERM (INTEREST ONLY):

24 Months

PREPAID INTEREST AT CLOSE:

5 Months

ZONING / BED / BATHS / SQFT:

  • Front Building: 4 Bed / 2 Bath / 2,400 sqft (fully remodeled)

  • Middle Building: 2 Bed / 1 Bath / 850 sqft

  • Back Building: 3 Unit / 5 Bed / 3 Bath / 2,124 sqft

USE OF FUNDS:

Funds are being used to payoff an existing 1st ($1.35M), fund interest reserves, and $340k being funds controlled to add a 680 swft unit on top of the middle building.

EXIT STRATEGY:

Conventional refinance after construction complete.

EXTRA DETAILS:

Good credit (716) and good payment history.


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