A hard money loan closed on an Affordable Housing Community in Ridgecrest, CA 93555.
The loan provided Acquisition funds to a seasoned real estate investor to purchase, renovate, stabilize and resell an Affordable Housing Community consisting of 40 single-story, two-unit apartments dwellings. Ridgecrest is a city in Kern County, California, United States, located in the southern portion of the Indian Wells Valley and in the northeast corner of Kern County. Ridgecrest evolved into a growing and dynamic city during the 1950’s and 1960’s as a support community to the Naval Air Weapons Station China Lake, providing housing and services for Federal employees and contractors. It was incorporated as a city in 1963. Source: Wikipedia® & City of Ridgecrest
Here are the loan details:
- Residential, 40 Multi-Family Duplex residences totaling 80 Units
- Purchase
- Purpose – Fix & Hold
- Loan-to-Value (As Is) – 60%
- First Trust Deed
- 60 Month Term
- Principal & Interest Payments
- Kern County, CALIFORNIA
- PRINCIPAL AMOUNT: $980,000.00
For more information on our Hard Money Loans or Trust Deed Investments, call our office at 714.838.1474 ext. 102 or visit our:
