Seasoned First Trust Deed
15% Interest only payments per annum
Payments of $8,750 per month
Maturity Date is 2010
Property Value is $1,500,000.00
Loan to Value is 47%
Secured by 30 acres of vacant land in an
unincorporated area of
Phelan, San Bernardino County, California.
Located at the cross streets of
Smith Road and Dos Palmas Road.
Rural area roads are unpaved.
Subject Property has all existing underground utilities,
including fire hydrant located on Smith Road,
adjacent to east side of property.
THE PHOTO ABOVE IS OF AN EXISTING HOUSE JUST BUILT
ACROSS THE STREET FROM THE 30 ACRES!
There is an existing First Trust Deed of $700,000.00
There is an existing Second Trust Deed of $104,101.00.
Investor may also purchase both trust deeds.
JOINT VENTURE OPPORTUNITY
Property owner is in the process of developing a 12-lot
subdivided tentative map with 2.5 acre ranchettes.
Property owner will also joint venture the 30 acres with
investors and/or developers.
There are currently five custom built homes,
approximate 3,100 square each,
located directly across from the 30-acre lot,
and each are listed for sale at $695,900.
CONTACT: Dez (951) 283-0557
Disclaimer: This is a Principal-to-Principal Transaction