- NOTE SALE -
4 Defaulted Residential Properties in Various Stages of
Construction or Recently Completed Rehab in Great Areas
****************************
PROPERTY #4
Defaulted Newly Rehabbed Single Family Home with
Gorgeous Ocean Views in Rancho Palos Verde Hills
SUMMARY
Fully Rehabbed Single Family Hillside Home
with MEGA Ocean Views from OC to LA
Rancho Palos Verde
4 Bedrooms and 3 Bathrooms
2828 SF
16111 SF Lot
Built 1968
PROPERTY DETAILS
2 Story True Mid Century modern home nested in The Miraleste Hills
Overlooking LA Harbor with views from Orange County Coastline to Los Angeles
Boasts a Zen like setting both indoor and outdoors with large lot for entertaining
Main floor family room opens up to secret garden with winding pond
Plus lots of greenery and privacy needed and much much more..
Located 30 Minutes to LAX and 40 Minutes to DTLA
Near Western Ave and Palos Verde Drive
NOTE DETAILS
Original Loan Amount $1,430,000
Original Interest Rate 10%
Default Rate of 18%
Loan Matured 9/2020
NOD Filed 12/2021
Valued at $2,000,000+
CURRENT UNPAID BALANCE
$1,485,000
******************************
PROPERTY #5
Defaulted 5 Unit Apartment with Converted Garage Unit
in San Fernando Valley Opportunity Zone
SUMMARY
Defaulted 5 Unit Apartment with 1 Converted Garage Unit
City of Pacoima in San Fernando Valley Opportunity Zone
10 Bedrooms and 6 Bathrooms
Unit Mix (5) 2+1 and (1) Single Converted Garage Unit
(GARAGE UNIT MUST BE VERIFIED WITH CITY)
3622 SF
7100 SF Lot
Built 1926 and Renovated 2018
Zoned LAR 1
LOCATION
Located near Van Nuys and San Fernando Blvd
20 Minutes to Burbank Airport and 30 Minutes to DTLA
Great Walkable Area Score of 84
Lots of Restaurants, Shopping and Transportation Nearby
Convenient Access to the 5, 118 and 405 Freeways
NOTE DETAILS
Original Loan Amount $740,000
Original Interest Rate 10.99%
Defaulted Rate Being Applied at 18.99%
Loan Matured 12/1/2020
Property Valued at near $1,200,000
CURRENT UNPAID BALANCE
$888,000
PER DIEM AT $392.00
**************************
PROPERTY #6
Sub Performing Loan on Single Family Rehab Project
in Very Desirable Area of Ktown
SUMMARY
Defaulted Single Family Home
Wilshire Center Ktown
3 Bedrooms and 2 Bathrooms
2880 SF
8002 SF Lot
Built 1910
Zoned LAR 1
2 Stories with Garage in backyard
Property in process of major rehab
Cross Streets 3rd and Ardmore
Great Walk Score of 88
Plenty of restaurants, shopping and Transportation
NOTE DETAILS
Original Loan Amount $1,120,036
Loan Originated 12/2020
Interest Rate 10%
6 Months of Interest Reserve on Loan
$250,000 held back for Rehab
Default Rate and NOD can be applied
due to no work being done
Loan Matures December 2021
Appraised value of $1.6M as of 9/2020
65% LTV
CURRENT UNPAID BALANCE
$850,000
*********************************
PROPERTY #7
Defaulted Side by Side 4 Unit Apartments
Located in the San Joaquin Valley
SUMMARY
Side By Side Uni Apartment Buildings
Ceres CA
*************************
PROPERTY A
4 Unit Apartment Building
8 Bedrooms and 4 Bathrooms
2900 SF
6250 SF Lot
Built 1962
---------------------
PROPERTY B
4 Unit Apartment Building
8 Bedrooms and 4 Bathrooms
2992 SF
6250 SF Lot
Built 1962
PROPERTY DETAIL AND LOCATION
Properties feature laundry rooms and ample parking
and located minutes to the City of Modesto
NOTE DETAILS
Original Loan Amount $276,000
Original Interest Rate 10.99%
Current Default Rate 18.99%
Loan Matured 7/2020
NOD can be filed by buyer
Comps for both properties at $700,000
CURRENT UNPAID BALANCE
$300,050
*********************************
PROPERTY #8
Defaulted Single Family Home with Large Lot
Located in the San Joaquin Valley
SUMMARY
Defaulted Single Family Home
Ceres Ca
4 Bedrooms and 2 Bathrooms
1360 SF
10,071 SF Lot
Built 1963
PROPERTY DETAILS AND LOCATION
1 Story home with large backyard with room
for pool, with new roof and dual pane
windows with good size living
room and well cared for...
Tenant Occupied Investment Property
Located minutes to the City of Modesto
NOTE DETAILS
1st Loan Amount $207,090
2nd Loan Amount $12,445
1st and 2nd Loan Interest Rates 10.99%
Default Rates of 18.99% can be applied
NOD can be filed by buyer
Loan Matured January 2021
Appraised Value $329,000
65% LTV
CURRENT UNPAID BALANCE
$228,966
- NOTE SALE -
DEFAULTED 2ND LIEN FOR SALE ON 3 MULTI FAMILY
APARTMENTS IN GREAT PARTS OF LOS ANGELES
SUMMARY
3 Defaulted Multi Family Apartment Buildings
1st and 2nd Liens Both in Default
Echo Park/Westlake Area all within 5 min of DTLA and with
Nearby Restaurants, Shopping and Transportation
PROPERTY A
6 Unit Multi Family Apartment
Echo Park
7376 SF
7467 SF Lot
Built 1987
2 Stories
Zoned LAR3
Cross Streets Union Pl and 2nd Street
Great Walk Score of 80
Defaulted 1st Lien Balance of $1,083,000
************************
PROPERTY B
4 Unit Multi Family Apartment
Westlake
9 Bed and 9 Baths
3029 SF
5600 SF Lot
Built 1991
Zoned LAR 4
2 Stories
Cross Streets Union Ave and 3rd St
Excellent Walk Score of 91
Defaulted 1st Lien Balance of $700,000
***************************
PROPERTY C
6 Unit Multi Family Apartment
Echo Park/Elysian
9 Bed and 6 Bath
5774 SF
7202 SF Lot
Built 1967
2 Stories
Zoned LARD2
Cross Streets Echo Park and Bellevue
Great Walk Score of 78
Defaulted 1st Lien Balance of $1,260,000
****************
2ND LIEN DETAILS
2nd Lien Covers all 3 Properties
2nd Lien Originated 4/22/2019
Loan Matures 4/2022
2nd Lien Filed NOD January 2021 ahead
of all 1st Liens and can foreclose first
1st Liens are all in Default with NOD's Filed After 2nd Lien
2nd Lien Monthly Interest Rate 10%
2nd Lien Monthly Late Charge Fee 10%
2nd LIEN CURRENT UNPAID BALANCE
$320,000
If interested in one or all email or call. Buyer to pay commissions
and negotiated at time if offer.
