Real Estate Investor and 20-year employee of with the same company was seeking a cash-out 1st TD on this non-owner occupied investment property. Our new Mortgage Vintage 1st TD was to payoff an existing 1st & 2nd and the remaining funds were used to make minor upgrades and improvements to the same property.
Our subject is a single-story SFR located in the Montebello neighborhood Los Angeles. The property sits on a 5,054 sqft lot and was built in 1931. The home has 1,197 sqft of living space with 3 bedrooms and 1 bath. Property features dining room, porch and fireplace. The subject is located just a few minutes from I-5 and HWY 60. Restaurants, schools, shopping, parks and medical facilities are all located nearby. Subject rents for $2,900/month.
Recent Transaction – $275,000 Business Purpose Re-Fi, Los Angeles, CA
