Palm Desert, CA

This loan is a first deed of trust on a single-family residence in Palm Desert, CA. Located in Riverside County's Coachella Valley, Palm Desert is an established resort community known for its upscale residential neighborhoods, championship golf courses, luxury resorts, and scenic mountain surroundings. Situated between Palm Springs and Indian Wells, the city offers convenient access to shopping, dining, entertainment, and recreational amenities. Its central location and year-round appeal make it a desirable destination for homeowners, seasonal residents, and real estate investors. The subject property, located at 74226 Via Venezia, is a detached, Spanish-style single-family residence situated within the gated Venezia community. Originally constructed in 2004, the home contains approximately 3,532 square feet of living area on a 19,602-square-foot lot, or approximately 0.45 acres. The residence features four bedrooms, four full bathrooms, one-half bathroom, and an attached two-car garage. The property offers a variety of indoor and outdoor amenities, including two fireplaces, ceramic tile flooring, central heating and air conditioning, and spacious entertaining areas. Exterior features include an in-ground swimming pool and spa, covered and open patios, a built-in barbecue, putting green, outdoor shower, and private fenced yard. The community also provides maintained private streets and convenient access to nearby shopping, services, and transportation corridors. The Borrower purchased the property in 2022 for $1,425,000 and has maintained it as a short-term rental investment. The residence has generated approximately $26,677 in rental income since April and is currently marketed for rent at $7,000 per month, increasing to $11,000 during November and December. The purpose of the loan is to refinance an existing lien approaching maturity. The Borrower intends to repay the loan through refinancing or business profits before maturity. The loan will have a maturity of 36 months.