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Loan Number:219287

Income Producing Property! 8-unit Apartment building in Montebello, CA!

More Information:


Loan Document

INVESTMENT DETAILS



This loan is a first deed of trust on a commercial apartment building in Montebello, CA. Montebello is a city in Los Angeles County located in the southwest area of the San Gabriel Valley and 8 miles east of downtown Los Angeles. The subject is an 8-unit building consisting of 7 studio units, and one 1-bedroom unit, all with 1-bathroom. The Building contains 2,870 square feet of total overall living area, and all units have separate electric meters. Seven of the units are ground-level units and the 8th unit larger and two stories; additionally, the property contains a one-car garage and four open parking spaces. The property is zoned commercial and was initially used as a motel; however, it has been legally used at apartment units with long term leases for the past 30 years. The Borrower took over the property in 2009 from his parents and has held it as a rental since. It currently generates $7,300 per month in rental income, $87,600 annually, and has low expenses. The purpose of the loan is to refinance the current loan that is coming due.

Minimum Investment

$25,000.00

Loan Amount

$410,000.00

Loan Term

36 months

Loan Interest Rate

9.99%

Loan Position

1st Position

Net Yield to Investor

9.49%


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.