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$2,150,000 - 1st Trust Deed

301 Mohawk Road, Santa Barbara, CA 93109 AND 813-815 W Mission Street, Santa Barbara, CA 93101

INVESTMENT STATUS

Investment Status:

Fully Funded

Loan Amount:

$2,150,000

Amount Funded:

$2,150,000

Amount Available:

0

INVESTMENT DETAILS

SENIORITY OF LOAN:

1st

PROPERTY VALUE:

$5,200,000

EXISTING DEBT ON PROPERTY:

$0

LOAN AMOUNT:

$2,150,000

LOAN TO VALUE (LTV):

41%

NET INVESTOR YIELD:

11%

MONTHLY NET TO INVESTOR:

$19,708.33

TERM (INTEREST ONLY):

24 Months

PREPAID INTEREST AT CLOSE:

7 Months

ZONING / BED / BATHS / SQFT:

  • 301 Mohawk: SFR / 4 Bed / 3 Bath / 2,670 sqft

  • 813-815 W Mission St (1): MFR / 2 Bed / 1 Bath / 1,170 sqft

  • 813-815 W Mission St (2): MFR / 4 Bed / 2 Bath / 1,400 sqft

USE OF FUNDS:

Finish Construction on 301 Mohawk + Cash in Pocket

EXIT STRATEGY:

Unknown

EXTRA DETAILS:

Rents on Mission St are $6,000/month


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