A Hard Money Acquisition Loan Closed On 5-Units In Bakersfield, CA 93308
The loan provided purchase money funds to a seasoned real estate investor for the Acquisition of a 5 Unit Residential Income Property with most tenants being long term and having on-site laundry and storage units that provide additional income.
Founded in the mid 1800's, and incorporated in 1870, the town of Bakersville was named for David Baker, one of the first to live in the area around 1790 and described as "a large landowner, innkeeper, merchant and political leader until about 1859, when he and his family migrated to the far west.
Residential Duplex & Tri-plex on One Lot.
Purpose – Acquisition
Loan-to-Value (As Is): 65%
First Trust Deed
60 Month Term
Principle & Interest Payments
Kern County, CALIFORNIA
PRINCIPAL AMOUNT: $162,000.00