Huntington Beach, CA

This loan is a first deed of trust on a four-unit multifamily property in Huntington Beach, CA. Commonly known as "Surf City USA," Huntington Beach is a desirable coastal community in Orange County recognized for its expansive beaches, vibrant downtown district, and recreational amenities. The city offers a mix of established residential neighborhoods, shopping, dining, and entertainment, along with convenient access to major employment centers throughout Southern California. Its coastal setting and established residential market contribute to its long-term appeal. The subject property, located at 7601 Amazon Drive, is a two-story, four-unit multifamily apartment building situated on an approximately 7,372-square-foot lot. Originally constructed in 1966, the property contains approximately 4,404 square feet of building area and features a mix of two- and three-bedroom residences, including a two-story, townhome-style unit. Amenities include private patios and decks, four garage spaces, additional surface parking, and both private and shared laundry accommodations. The property has undergone several improvements, with at least two units featuring updated interiors, including fresh paint, new flooring, quartz countertops, and remodeled bathrooms. Additional features include updated kitchens, stainless-steel appliances, ceiling fans, air conditioning, and private outdoor areas. The property is currently fully occupied, generating approximately $10,980 in monthly rental income. The property has been in the Borrower's family since 2020, with the Successor Trustee managing the investment since 2021. The property is currently held free and clear of individual liens. The purpose of the loan is to provide cash out to satisfy an existing obligation cross-collateralized with another property. The Borrower intends to refinance into long-term financing before maturity. The Borrower is a trust, with the Successor Trustee also operating a restaurant business. He owns two additional multifamily properties in Huntington Beach with a combined estimated value of $5,779,000 and approximately $3,179,000 in equity. The loan will have a maturity of 36 months.