Huntington Beach, CA

This loan is a first deed of trust on a four-unit multifamily property in Huntington Beach, CA. Commonly known as "Surf City USA," Huntington Beach is a desirable coastal community in Orange County recognized for its expansive beaches, vibrant downtown district, and recreational amenities. The city offers a mix of established residential neighborhoods, shopping, dining, and entertainment, along with convenient access to major employment centers throughout Southern California. Its coastal setting and established residential market contribute to its long-term appeal. The subject property, located at 7702 Timber Circle, is a well-maintained, two-story multifamily investment property situated on an approximately 7,878-square-foot lot. Originally constructed in 1977, the property contains approximately 4,294 square feet of living area and features four residential units with a combination of one-, two-, and three-bedroom floor plans. Amenities include on-site parking, common laundry facilities, landscaped grounds, and private outdoor spaces for select units. The property is located in an established residential neighborhood of west Huntington Beach, within close proximity to the Pacific Ocean and the city's coastal amenities. The property has been in the Borrower's family since 2020, with the Successor Trustee managing the investment since 2021. The property is currently fully occupied, generating approximately $5,400 in monthly rental income. The purpose of the loan is to refinance an existing SO-CAL Capital loan and provide additional cash out to assist with renovations for the Borrower's new restaurant. The Borrower intends to refinance into long-term financing before maturity. The Borrower is a trust, with the Successor Trustee managing the property and operating a restaurant business. The trust reported approximately $252,548 in deposits over the previous three months. The Successor Trustee also owns two additional multifamily properties in Huntington Beach, with a combined estimated value of $5,779,000 and approximately $3,579,000 in equity. The Borrower has a FICO score of 634. The loan will have a maturity of 36 months.