At a Glance

Mission Beach, CA

Property Type Duplex
Size 1,400 square feet
Security 1st Trust Deed
Loan $600,000
Value $1,030,000
LTV 58%
Term 12 months

The subject property is a duplex located in Mission Beach, a tourist destination in San Diego.  The duplex has a 2 bedroom, 1 bathroom unit upstairs and a 1 bedroom, 1 bathroom unit downstairs.  The building is 1 block from Mission Bay and 1 block from the beach with peak ocean views from the upstairs unit.

The borrower is a real estate investor and owns this property free and clear.  He needed to close quickly, in cash, on another investment property in the San Francisco Bay Area.