Ocean View Residential Lots in Malibu

Ocean View Residential Lots in Malibu

Property Address

3816 Paseo Hidalgo St and 3849 Rambla Orienta, Malibu, CA
  • 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

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Specifics

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)
LOAN AMOUNT: $1,175,000.
POSITION: 1st
INTEREST: 10%
TERM: 24 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 is interest-only

 

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.