Investment Property in San Luis Obispo County

Investment Property in San Luis Obispo County

Property Address

6345 Avenida Trinidad, San Miguel, CA 93451
  • Loan Number: 7631
  • APN: 019-331-010
  • County: San Luis Obispo
  • Appraised Value: $265,000.00
  • Purchase Price: $265,000.00
  • Loan Amount: $172,500.00
  • Loan Position: 1st
  • Interest: 10.25%
  • LTV (Loan to Value): 65%
  • Term: 36 Months

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Specifics

LOAN: #7631
SUBJECT PROPERTY: 6345 Avenida Trinidad, San Miguel, CA 93451
Two modular homes, both on permanent foundations, on 17.9 acres w/panoramic views
APN 019-331-10 

APPRAISED VALUE: $265,000.00
PURCHASE PRICE: $265,000.00
LOAN AMOUNT: $172,500.00
POSITION: 1st
INTEREST: 10.25%
TERM: 36 mos
LTV: 65%

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 bringing in just over $100k towards this purchase, and will be utilizing additional funds to repair/renovate both units before marketing them for rent. San Miguel is in San Luis Obispo County just north of Paso Robles, CA. 

Note: The appraisal was done prior to the 433A (confirming permanent foundation status) was completed on the second unit. It has since been completed, and was a condition of sale by the buyer.