Back to List

Loan Number:219316

Second deed of trust on a beautiful Single Family home in Pacific Palisades, CA!

More Information:


Loan Document

INVESTMENT DETAILS



This loan is a second deed of trust on a single-family residence in Pacific Palisades, CA. The subject is a 5-bedroom, 5 ½-bathroom home with 4,660 square feet of living space on a 14,998 square foot lot. Pacific Palisades is an affluent coastal residential neighborhood tucked between the Santa Monica Mountains and the Pacific Ocean. It is about 9 miles northwest of the UCLA campus. The property was remodeled less than five years ago with fully upgraded kitchen and bathrooms. Per the appraiser, all components in the home are either new, have been recently repaired, or refinished. The home features hardwood floors throughout, an extra-large living room with vaulted ceilings, a gas fireplace with a formal dining room both opening to the lush backyard. The Borrowers purchased the property in 2013 and have maintained it as their principal residence since the completion of the renovation. The current first lien is with JPMorgan Chase Bank at a 3.375% interest rate maturing May 2045, with a principal balance of $2,999,715. The purpose of the loan is to provide cash out for the expansion of the Borrower’s law firm and to assist during the current growth.

Minimum Investment

$50,000.00

Loan Amount

$400,000.00

Loan Term

24 months

Loan Interest Rate

10.99%

Loan Position

2nd Position

Net Yield to Investor

10.49%


Important Investment Disclosures:
Important investment disclosure. Your investment will be either directly or indirectly secured by real estate. You may receive a direct interest in a promissory note and deed of trust as a fractionalized interest as a tenant in common, as a single beneficiary, or, your investment may be in the form of a membership interest in a limited liability company formed for the specific purpose of funding a loan. Nothing in this announcement constitutes an offer to sell or a solicitation of an offer for investment. An offer is made only by the offering circular and material disclosure package. Past performance is not an indication of future results. We strongly recommend before making an investment decision that you thoroughly read the contents of the entire loan material disclosure package. You are encouraged to consult with your own tax and financial advisers before investing. Investments are NOT insured by any government agency and are NOT guaranteed. Investments offered through So-Cal Capital, Inc. are not liquid, not transferable, and involve substantial risk, including the possible loss of all principal.