Investments

2nd TD Altadena, 65% CLTV, 11.50% interest

Investment Details
Additional Information

Availability:

$72,000 available; minimum investment $25,000

Address:

2012 Lake Avenue, Altadena, CA 91001

Property Type:

Commercial

LTV:

65% CLTV

Occupancy:

Non-owner occupied

Loan Amount:

$252,000

Investor Yield:

11.50%

Appraised Value:

$1,044,000

Term:

2 years

Comments:

The purchasing entity is a property management company that owns 80 properties nationwide. The borrower is a strong guarantor with 759 mid-score credit rating and put 35% down towards purchase in conjunction with our loan ($400,000). They plan on cleaning up the property and renting to either a food or retail operation. The borrower is planning a 10 year, triple net lease and will re-fi conventionally when tenanted.

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