Oceanside SFR on Large Lot

Oceanside SFR on Large Lot

Property Address

1725 Avocado Road, Oceanside, CA 92054
  • Loan Number: 7629
  • APN: 154-200-11
  • County: San Diego
  • Appraised Value: $660,000.00 (ARV)
  • Purchase Price: $525,000.00
  • Loan Amount: $393,000.00
  • Loan Position: 1st
  • Interest: 8%
  • LTV (Loan to Value): 75% of purchase price / 60% of ARV per appraisal

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Specifics

SUBJECT PROPERTY: 1725 Avocado Rd, Oceanside, CA 92054
4-bed/2-bath; 2271 sq ft w/2-car attached garage on a 24,892 sq ft lot
PURCHASE PRICE: $525,000.00
APPRAISED VALUE: $660,000.00

LOAN AMOUNT: $393,000.00
POSITION: 1st
INTEREST: 8%
TERM: 18mos
LTV: 75% of purchase price / 60% of ARV 

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 co-borrowers have incredibly strong FICO scores and are bringing in approximately $120,000 in cash to close this purchase. 

They will be performing a variety of upgrades/renovations to the property, utilizing their own funds, including landscaping, enlarging and renovating the kitchen, new flooring throughout, fully renovating the master bath, adding a patio from the second story to the backyard, new interior and exterior paint as well as a new exterior facade, and "refreshing" the house overall. Additionally, they plan on splitting the large lot and potentially building a second home on the newly formed second lot.