Over the past two years, one of the partners has contributed $1.5 million in loans to the LLC, which were used to fund improvements across all five properties owned by the entity. These funds covered permitting, architectural work, hard construction costs for square footage expansion, and full property remodels.
The LLC is now seeking a $1.5 million second trust deed loan to reimburse the contributing partner.
In addition to this LLC, the borrowers own two other businesses that support tenant placement and occupancy across sober living homes, contributing to consistent rental demand.
Collectively, the five properties generate strong lease income. 2.5 years are remaining on the current leases. After servicing the senior debt, the LLC retains approximately $30,000 in net monthly cash flow—more than sufficient to cover debt service on the proposed second trust deed.
The existing first trust deed loans total $3.85 million, all held by banks at fixed rates below 5.0%.
This second-position loan will be personally guaranteed by one of the partners, who also owns at least three additional properties in Culver City.
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