3+ Acres in San Diego

3+ Acres in San Diego

Property Address

San Miguel Road, Bonita, CA 91902
  • Loan Number: 7597
  • APN: 585-120-08-00
  • County: San Diego
  • Appraised Value: $130,000.00
  • Purchase Price: $125,000.00
  • Loan Amount: $62,500.00
  • Loan Position: 1st
  • Interest: 10.5%
  • LTV (Loan to Value): 50%
  • Term: 48 Months

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Specifics

SUBJECT PROPERTY: San Miguel Road, Bonita, CA 91902
3.14 AC Zoned R-1 (Single-Family Residential); APN 585-120-08-00
APPRAISED VALUE: $130,000.00
PURCHASE PRICE: $125,000.00 
LOAN AMOUNT: $62,500.00
POSITION: 1st
INTEREST: 10.5%
TERM: 48 mos
LTV: 50%

There is a late charge of 10% of the payment (after 10 days)
There is no prepayment penalty on this loan
This loan contains a balloon payment

SPECIFICS:  Our borrower is purchasing this property as an investment, with plans to build one or two residences on the property in the future. Her husband is a local real estate broker and restaurant owner. The subject property has paved access through a gated entry and is near a San Diego Gas and Electric substation.