Residential Lot in Norwalk, CA

Residential Lot in Norwalk, CA

Property Address

12325 Cheshire St, Norwalk, CA 90650
  • Loan Number: 7938
  • APN: 8082-017-022
  • County: Los Angeles
  • Appraised Value: $2,700,000 (as-completed)
  • Loan Amount: $200,000
  • Loan Position: 1st
  • Interest: 11%

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Specifics

LOAN: #7938
SUBJECT PROPERTY: 12325 Cheshire St, Norwalk, CA 90650
APN: 8082-017-022
14,479 sq ft parcel w/approved plans for six townhouses totaling 7,993 sq ft
AS-IS APPRAISED VALUE: $333,000 (April 2014)
AS-COMPLETED APPRAISED VALUE: $2,700,000 (Aug 2016)

LOAN AMOUNT: $200,000.00
POSITION: 1st
INTEREST:
11%
TERM: 18 mos
LTV: 60% of April 2014 appraised value

There is a late charge of 10% of the monthly payment (after 10 days)
This loan is interest-only
This loan does not include a pre-payment penalty
SPECIFICS:  Plans for the 6-units have been approved. Our borrower is a current client with a strong payment history.