The collateral property is a two-story 5,870 square foot commercial office building located on a 10,500 square foot lot (with ample parking).
The property is in a great location, Del Rey Oaks, which is adjacent to the city of Monterey and 10-15 minutes from Carmel, California.
An appraisal was completed that determined the value of the property to be $1,750,000.
The loan-to-value on this 1st Trust Deed loan is 65%.
The subject property has all state and city licensing permits for cannabis retail sales and the borrower has been in the cannabis business for over 30 years.
This private money loan is ideal for Crescent Lenders because of the strong equity position.
Additionally, there is also a 2nd Trust Deed for $335,000 from a different lender behind our new 1st Trust Deed.
Maybe you need a bridge loan for an investment property in Carmel-by-the-Sea or would like to refinance a private money loan for a motel you own in the Big Sur area, whatever your circumstance, we’re ready to show why we are the top private money lenders in California.
We Can Deliver Rapid Financing
Between $200k and $5 million dollars
Nationwide private lender (not a broker, avoid the extra fees)
Funding loans such as purchase, refinance, rehab, probate, 1031 exchanges and cash-out
All types of investment properties considered, residential, commercial and industrial
Crescent Lenders, 2999 Overland Ave, Suite 116, Los Angeles, California, 90064