This loan is a second deed of trust on a commercial retail building in Pacific Grove, CA. Pacific Grove offers an unparalleled quality of life sharing borders with the Monterey, the Pacific Ocean, and the Del Monte Forest, the town offers breathtaking views and recreational activities. The subject consists of 6 units with 8,400 square feet of gross area on a 22,440 square foot lot. The Borrowers are all family members who purchased the property in 1998 and have managed it along with many others since acquisition. The property is currently fully leased with a variety of business tenants and generates a monthly income of $12,631. The purpose of the loan is for the Borrowers to obtain cash out to be used on another commercial property in Pacific Grove owned by the Guarantor. More specifically, the funds will be used to convert the second story of the property into ocean view apartments! The Borrowers are well known in the Monterey area. The main Guarantor is a third-generation resident and Broker with over 15 years of experience in residential and commercial real estate sales and management.
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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.