Three Commercial and Residential Properties in the Central Valley, CA

Three Commercial and Residential Properties in the Central Valley, CA
  • Loan Number: 7822
  • Appraised Value: $833,000.00 (combined)
  • Loan Amount: $373,000.00
  • Loan Position: 1st
  • Interest: 10.75%
  • LTV (Loan to Value): 45%
  • Term: 36 Months

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Specifics

SUBJECT PROPERTIES:

#1) 11566 State Hwy 152, Dos Palos, CA 93620

2-bed/1-bath SFR; 864 sq ft on a 10.7 acre lot (APN 085-190-030) 

Appraised Value: $398,000. 

#2) 9810 Stephens Street, Delhi, CA 95315

Retail Bldg on an 11,325 sq ft lot (APN 009-130-012)

Appraised Value: $155,000. 

#3) 649 and 653 I Street, Los Banos, CA 93635

Mixed Use/Restaurant and store on 1st floor; four residential units above (APNs 025-231-007/008) 
Appraised VAlue: $280,000.

LOAN AMOUNT: $373,000.00

POSITION: 1st

INTEREST: 10.75%

TERM: 36 mos

LTV: 58%

 

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:  All properties are leased and currently generate a combined monthly income of $5,975. The four units on the 2nd story of the Los Banos property are under construction; we will be holding back $80,000 of the loan proceeds and releasing those funds as work is completed.