San Francisco, CA
Single Family Residence
Our borrower is a real estate investor that needed funds for another project they were completing. They own this property with a small first lien of $375k. The appraisal came in at $1.5M. Stonecrest provided the borrower with a $600k line of credit in 2nd position. This is a 1-story home built in 1922. The home is 1,330 sq ft on a 2,063 sq sf lot with 3 bedrooms and 2 baths. The finished basement has an additional 2 bedrooms and 1 bath. The inside of the home has been remodeled within the last year. This private money 2nd TD was funded in August 2017.