Mission Beach, CA
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.