- Loan Number: 7996
- APN: 4451-015-088 and 4451-015-87
- County: Los Angeles
- Appraised Value: $2,270,000. (Jan 2017)
- Loan Amount: $1,175,000.
- Loan Position: 1st
- Interest: 10%
- LTV (Loan to Value): 52%
- Term: 24 Months
SUBJECT PROPERTIES: 3816 Paseo Hidalgo St and 3849 Rambla Orienta, Malibu
Two adjacent ocean-view residential lots
APNs 4451-015-088 (5,695 sq ft) and 4451-015-87 (6,668 sq ft)COMBINED APPRAISED VALUE: $2,270,000. (Jan 2017)
SPECIFICS: Our borrower has a mid-FICO of 766; he is refinancing the subject properties in order to pay off the existing matured loan, as well as to obtain a small amount of cash to complete the entitlements for two proposed SFRs. Both lots are in the Las Flores Canyon area of Malibu, just above Pacific Coast Highway. Our loan includes 3-mos of prepaid interest.