Port Costa, CA

$299,999

Mixed-Use, Multifamily, Retail

Refinance

05/29/2015
Transaction by
Rubicon Mortgage Fund, LLC
Rubicon Mortgage Fund funded a $300,000 private money loan secured by a 10-unit mixed-use property in Port Costa, a small community west of Martinez in Contra Costa County, California. The Borrower is an experienced real estate investor who recently purchased the property with all cash. He decided to cash out equity soon after the purchase to use for making improvements to the property. We estimated the value at around $500,000 so the loan-to-value for this 1st trust deed mortgage was 60%. The Borrower plans to refinance to pay off this loan within the one year term. It was funded in May 2015.