Business owner is seeking a cash-out 2nd TD of this owner occupied SFR in Costa Mesa. Proceeds from this loan will be used to invest real back into the borrower’s reconditioned furniture business, Refreshed.
Our subject property is a single-story SFR situated on a 6,000 sqft lot. The subject was built in 1958 and has 1,647 sqft of living space with 4 bedrooms, 2 baths and 2-car attached garage. The home is located in east side Costa Mesa near the 55 FWY. Schools, shopping, restaurants, recreation and medical facilities are located nearby and sits just a few blocks from the Back Bay. 1st TD is held by Flagstar at 4.25%.
Recent Transaction – $145,000 Business Purpose Cash Out, Costa Mesa, CA 92627
Real estate investor, 11-year full-time employee with the same company and 679 credit score borrower was seeking a business purpose cash-out refinance 1st TD to make improvements to this non-owner occupied investment property.
Subject property is a two-story, SFR located in Costa Mesa at the end of cul de sac. The subject is 2,413 sqft with 7 total rooms with 4 bdrm/2 bath and featuring a fireplace, open kitchen, patio and 2-car attached garage. Subject sits on an 8,404 sqft lot. Subject is conveniently located near 405 FWY, HWY 55 and 73 Toll Road. Schools, parks, shopping and restaurants are nearby. Property is currently leased for $3,900/month.
Recent transaction – $710,000 Business Purpose, Costa Mesa, CA