- Property Address:
3600, 3602, 3604, 3608, 3610, 3614 and 3616 Green Acre Rd, Oakland, CA 94621
- Loan Number:
7815
- County:
Alameda
- Appraised Value:
$2,119,000
- Loan Amount:
$1,100,000
- Loan Position:
1st
- Interest:
10%
- LTV (Loan to Value):
52%
- Specifics:
SUBJECT PROPERTY: 3600, 3602, 3604, 3608, 3610, 3614 and 3616 Green Acre Rd, Oakland, CA 94621 Seven condominium units ranging in size from 2-bed/2-bath to 3-bed/2-bath and from 1178 to 1451 sq ft
APPRAISED VALUE: $2,119,000.
MINIMUM INVESTMENT: $100,000.LOAN AMOUNT: $1,100,000.
POSITION: 1stINTEREST: 10%TERM: 36 mosLTV: 52%
There is a late charge of 10% of the payment (after 10 days)There is no prepayment penalty on this loanThis loan contains a balloon payment
SPECIFICS: These condo units are near Mills College and bring in $12,314 in monthly rental income. Our co-borrowers are a doctor and his wife; their mid-FICOs are 701 and 787. Our loan will pay off an existing first of $821k, and provide some cash-out to perform cosmetic improvements to the units. We are accepting minimum investments of $100k.