San Diego Area Triplex

San Diego Area Triplex

Property Address

1351-1355 Imperial Beach Blvd, Imperial Beach, CA 91932
  • Loan Number: 7534
  • County: San Diego
  • Appraised Value: $518,000.00
  • Loan Amount: $352,000.00
  • Loan Position: 1st
  • Interest: 10%
  • LTV (Loan to Value): 70%
  • Term: 36 Months

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Specifics

LOAN: #7534

SUBJECT PROPERTY: 1351-1355 Imperial Beach Blvd, Imperial Beach, CA 91932 

Unit #1: 3-bed/2-bath; 1536 sq ft

Unit #2: 2-bed/1-bath; 891 sq ft

Unit #3: 2-bed/1-bath; 891 sq ft 

APPRAISED VALUE: $518,000.00   

LOAN TERMS

 

LOAN AMOUNT: $352,000.00

POSITION: 1st

INTEREST: 10%

TERM: 36 mos

LTV: 68%

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 owns several rental properties in the San Diego area, and has owned the subject property since 1988. The property is owned free and clear, and the three units bring in rental income of $4200 per month. Loan proceeds will go towards paying off a loan on a separate property as well as bringing property taxes current.