Private money bridge loan secured by a 5-unit multifamily property in San Pedro, close to the Port of Los Angeles. The Borrower owned the property free-and-clear and needed to cash out some equity to use for his business. The appraised value is $562K so the loan-to-value is only 36% based on an internal review of value. The property is fully occupied and debt services itself with the rental income. The term is 5 years.