Carmel, CA

This loan is a first deed of trust on a single-family residence in Carmel-by-the-Sea, CA. Located along California's Central Coast, Carmel is an affluent coastal community known for its scenic beaches, distinctive architecture, luxury residences, and charming village atmosphere. The community offers boutique shopping, acclaimed dining, art galleries, and convenient access to the Monterey Peninsula. Its limited housing inventory, desirable coastal setting, and strong demand from primary and second-home buyers contribute to its reputation as one of California's most exclusive residential markets. The subject property is located along Camino Real in the highly desirable Golden Triangle neighborhood, within walking distance of Carmel Beach and downtown Carmel. Originally constructed in 1933, the cottage-style residence contains approximately 1,248 square feet of living area on a 4,000-square-foot lot and features two bedrooms, two bathrooms, a one-car attached garage, and a separate workshop/office space. The home has been updated with hardwood flooring, a remodeled kitchen featuring marble countertops and stainless-steel appliances, upgraded bathrooms, dual-pane windows, and two fireplaces. Additional amenities include a composite deck, tile patio, and owned Tesla battery storage system. The property is situated in a prestigious residential neighborhood characterized by distinctive architecture, mature landscaping, and limited inventory. The property was appraised at an "as-is" market value of $4,500,000 as of August 17, 2026. The Borrower purchased the property with cash in 2018 and currently owns it free and clear of any liens. The purpose of the loan is to provide cash out to finance the acquisition of another investment property in Las Vegas, NV. The Borrower intends to repay the loan through refinancing or proceeds from the sale of another investment property. The loan will have a maturity of 24 months, with 12 months of prepaid interest.