$3,150,000 refinance/cash-out in Concord, CA
Rubicon funded a $3,150,000 refinance/cash-out of multiple rental properties located in Clayton and one located in Concord, California. The loan is secured in first position by one 5-plex in concord. This 5-plex is home to 5 separate houses each with a garage on the same parcel. The loan is also secured by two houses and a .93-acre vacant lot. These three properties have just finished entitlements and approvals on an 80-unit, 55, and older condominium complex. The loan also has a built-in interest reserve.
Loan Amount: $3,150,000
Loan Term: 24 Months
CLTV: Under 40%
Loan Position: First Deed of Trust on all properties.
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