Martha's Vineyard, MA

$1,465,000

Portfolio of Residential Properties, Single Family Residence

Refinance

10/10/2016
Transaction by
Wilshire Quinn Capital, Inc.
In October 2016, the Wilshire Quinn Income Fund financed a $1.46MM first trust deed private money loan secured by two residential investment properties – one in Southern California and the other in Massachusetts. The Borrower needed to pull cash out from the properties to use for business purposes. The first property is a single family home in Ranch Mirage, near Palm Springs, CA. The property is located on a golf course, consists of 3,700 square feet and was appraised for $775,000. The Martha’s Vineyard property sits on a 1.21 acre lot with ocean and bay views. The single family residence consists of 4 bedrooms, 3 and one-half baths and 4,700 square feet. The house was built in 2003 with an open floor plan and wrap around deck. The property appraised for $5,275,000. The cumulative value of the two properties secured by our 1st trust deed private money loan is $6,050,000, giving the Fund a total loan-to-value of less than 25 percent.