San Diego Commercial Property

San Diego Commercial Property

Property Address

1913 Euclid Ave, San Diego, CA 92105
  • Loan Number: 7708
  • County: San Diego
  • Appraised Value: $550,000.00
  • Purchase Price: $530,000.00
  • Loan Amount: $320,000.00
  • Loan Position: 1st
  • Interest: 10%
  • LTV (Loan to Value): 60% of purchase price / 58% of appraised value
  • Term: 36 Months

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Specifics

LOAN: #7708
SUBJECT PROPERTY: 1913 Euclid Ave, San Diego, CA 92105
3760 sq ft commercial building on a 22,359 sq ft lot  
APPRAISED VALUE: $550,000.00
PURCHASE PRICE: $530,000.00

 

LOAN AMOUNT: $320,000.00
POSITION: 1st
INTEREST: 10%
TERM: 36 mos
LTV: 60% of purchase price/58% of appraised value 

 

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:  The subject property is located very close to Hwy 94 and just off a major thoroughfare in a commercial area of San Diego. The co-borrowers have high credit scores and are putting over $200k in cash towards the purchase and closing costs. They will be making improvements to the property before marketing it for lease.