HARD MONEY LOAN FOR LOS ANGELES RETAIL PROPERTY ACQUISITION


  • Los Angeles, CA
  • $535,000 Loan Amount
  • Retail Property
  • 1st Trust Deed

Hard money loan for the purchase and rehab of a small retail property in the Montecito Heights neighborhood of LA, close to Dodgers Stadium. The purchase price was $425,000. The Borrower put down 10% cash, Nationwide funded the rest of the purchase and provided an additional $150,000 for construction costs. The Borrower plans to sell the property upon completion within 1 year. The estimated after-repair value (ARV) is $930,000 so the loan-to-value is 57% based on an internal review of value.