Mortgage lead for Commercial loan in Gardena, CA, 90247

Loan Request for Commercial loan in Gardena, CA, 90247

Request #3713775 by Lender

Date Posted

2/19/2025 10:49:28 AM

Property at

Gardena, CA, 90247, USA Show Map

Borrower at

Property Type

Commercial

Property Value

$7,000,000

Amount of Existing Loans

$2,500,000

Loan Request

$800,000

LTV

47.14 %

Credit Rating

720-739

Net Worth

$4,000,000 - $10,000,000

Loan Purpose

Second, Third or HELOC

Purpose

We're seeking a business purpose loan totaling $800,000, aimed at undertaking essential repairs and enhancements on the commercial property located at 821 West 167th Street in Gardena, CA. These improvements will significantly boost the property's value and market appeal.

**Details of Purpose:**
The funds will be allocated to a strategic renovation plan designed to transition the property from its current Class C status to a higher grade. This will not only increase the property’s market value but also create the potential for higher rental income. With the property's estimated value at $7,000,000, there is a strong likelihood of a substantial appreciation post-renovation.

20 Unit property. Repairs and 2 garage conversion to create 22 units.

**Lender Benefits:**
For the lender, this loan represents a low-risk opportunity, given the property's current equity and the borrower's robust financial profile, including a net worth between $4,000,000 and $10,000,000 and a credit score in the 720-739 range.

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Loan Request for Commercial loan in Gardena, CA, 90247