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At a Glance

Santa Clara , CA

Property Type Mixed Use
Size 7,780 Square Feet
Security 1st Trust Deed
Loan $828,750
Value $1,705,000
LTV 48%
Term 24 months

The subject property is a four-unit commercial retail property located one block from Santa Clara University.  The property sits on a corner lot and currently is leased to three tenants: a property management company, a popular sandwich shop, and an army-surplus store.

The borrowers purchased the building from the bank at a discount.  Due to the previous foreclosure on the property, the tenants were on month-to-month leases.  The borrowers were able to successfully secure long term leases for the property and refinanced with a commercial lender.

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