Commercial Office Building
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1 Commercial Office Building Palmdale, CA Palmdale, CA # st Trust Deed $487,500 A Presentation for Investment in a Note and 1 st Deed of Trust
2 Contact Investor Relations to make a reservation or for more information Disclosure Important Investment Disclosure Your investment will be either directly or indirectly secured by real estate. You may receive a direct interest in a promissory note and deed of trust as a fractionalized interest, as a tenant in common, as a single beneficiary, or, your investment may be in the form of a membership interest in a limited liability company formed for the specific purpose of funding a loan. An offer is made only by the Offering Circular and material disclosure package. Past performance is not an indication of future results. Investments are not insured or guaranteed by any governmental agency. Investments offered through So-Cal Capital, Inc. are available to California residents only, are not liquid, not transferable, and involve substantial risk, including the possible loss of all principal.
3 Contact Investor Relations to make a reservation or for more information Loan This loan is a first deed of trust on the purchase of a commercial office building in Palmdale, CA. The borrowers are looking for a purchase money loan to acquire the subject property. The borrowers plan to fully stabilize the property by increasing rents on all the units. After the property is fully stabilized and rents are increased to market value the borrower will refinance the purchase money loan through conventional financing. The loan will be for 36 months with 4 months of guaranteed interest. Security Collateral for this loan will be a Deed of Trust, Security Agreement, Assignment of Rents & Leases and Fixture Filing in first lien position. The note will be secured by a commercial office building. The property is located in Palmdale, CA. Loan Valuation Appraised Value: $750, First Trust Deed: $487, Loan to Value: 65.0% Yield To Investor 9.0% The appraisal has been prepared by an independent appraiser licensed to do business in the State of California. The date of the appraisal is January 12, 2018.
4 Loan Contact Investor Relations to make a reservation or for more information Loan Terms The loan amount will be $487, at a fixed note rate of 9.50% providing monthly payments of interest only in the amount of $3, with the entire balance of principal due in 36 months from the 1 st day of the second calendar month following the close of escrow. There will be no prepayment penalty however, the borrower will be responsible for 120 days of interest. Documents will include due on sale or further encumbrance provisions. There will be a late charge imposed for any payment more than 10 days after its due date in the amount of 10% of the payment due. If imposed, the late charge will be equally divided between investor and servicer. In the event a loan is in default in excess of 30 days, a default interest rate will be imposed equal to 5% above the current interest rate. The term of this loan is 36 months or until the loan is repaid and/or the security property is sold. Borrowers The borrowers, a Husband and Wife, are experienced real estate investors that own and manage numerous real estate assets near the subject property. Specifically, the borrowers own 9 properties with an estimated value of over $2.2 million of which 5 are owned free and clear. Both borrowers are semiretired and manage their real estate portfolio however, the Wife is also employed by the US Probation Department, a federally regulated agency.
5 Loan Contact Investor Relations to make a reservation or for more information Purpose of the Loan The purpose of this loan is to purchase a commercial office building. Source of Repayment The source of repayment for this loan will be from the borrower s own funds and through a refinance. Before the subject loan matures the borrower will obtain a conventional bank loan on the property. Property Description The subject property is a two-story office building that is made up of 12 units and 7,374 of total square feet. The property is situated on a 14,963 square foot parcel and conveniently located off a main street located near major business such as Bank of America and the U.S. Post Office. Currently the property is over 90% leased and brings in $5,595 a month with below market rents. In its current state the property will generate $1, of positive cash flow under the subject loan. Once acquired the borrower plans to increase the rents to market value, which will result in the property generating over $7,000 in monthly income.
6 Loan Details Contact Investor Relations to make a reservation or for more information Property Address: Type of Property: Palmdale, CA Commercial Office Appraiser: Frank Stolfi, Licence # AG Appraised Value $750, Date of Value: January 12, 2018 Appraisal Type: As-Is Market Value Value per Foot: $ Zoning: Compliance: Commercial Legal and Conforming Loan Request: $487, Loan To Value: 65.0% Note Rate: 9.50% Investor Yield: 9.0% Term: 36 Months
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