7 Condominium Units in Oakland, CA

7 Condominium Units in Oakland, CA

Property Address

3600, 3602, 3604, 3608, 3610, 3614 and 3616 Green Acre Rd, Oakland, CA 94621
  • Loan Number: 7815
  • County: Alameda
  • Appraised Value: $2,119,000.
  • Loan Amount: $1,100,000.
  • Loan Position: 1st
  • Interest: 10%
  • LTV (Loan to Value): 52%

Specifics

SUBJECT PROPERTY: 3600, 3602, 3604, 3608, 3610, 3614 and 3616 Green Acre Rd, Oakland, CA 94621
Seven condominium units ranging in size from 2-bed/2-bath to 3-bed/2-bath and from 1178 to 1451 sq ft 

APPRAISED VALUE:
$2,119,000.
MINIMUM INVESTMENT: $100,000.
LOAN AMOUNT: $1,100,000.
POSITION: 1st
INTEREST: 10%
TERM: 36 mos
LTV: 52%

 

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:  These condo units are near Mills College and bring in $12,314 in monthly rental income. Our co-borrowers are a doctor and his wife; their mid-FICOs are 701 and 787. Our loan will pay off an existing first of $821k, and provide some cash-out to perform cosmetic improvements to the units. We are accepting minimum investments of $100k.