LTV 69%

8359 Ilex, Fontana

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Investment Summary

Current owner (Trinity Homes) plans to purchase the 3 parcels to the east of the 3 already owned (8359, 8393, 8409) to entitle the land, put a tentative tract map for high-density multi-family and once fully approved, resell to a national builder.

Independent third party appraisal commissioned by Trinity Redevelopment shows an After Market Value (ARV) of $646,000 and an Investment  $450,000 for Address. The LTV is 69% and is in line with the data we found during our due diligence process. The valuation report shows the residential market surrounding all underlying properties in this area of Fontana is neutral and supply outweighs demand, and the residential market surrounding all underlying properties in this area of San Bernardino County is stable and supply and demand are in balance.  Trinity Redevelopment has invested ($30,000) to subject to reach ARV.

Trinity Homes will be acquiring the three parcels to the east with the intention to entitle all six parcels (which include 8359, 8393, and 8409 Ilex), place a tentative tract map for high density multi-family structures.

$450,000 funded of $450,000