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LTV 70%

831 Washington, Redlands

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Investment Summary

This property is perfect for new or experienced multifamily investors or even a First Time Home Buyer looking to live in one unit and rent out the other! The front house features three bedrooms, two bathrooms and a laundry room. The main bedroom has its own bathroom. 

This unit features a beautiful recently remodeled kitchen with granite counter-tops, tile back splash, cherry wood cabinets, & carpet flooring through out the home. The back ADU unit is a NEWLY constructed Studio with brand new laminate flooring, new counter-tops & cabinets, in unit washer & dryer hook ups, & fresh paint. Also the Owner has approved Plans for a second ADU known as a JDU garage conversion, which can be given upon request. This property is conveniently located near the 10 freeway, University of Redlands and this home is also within walking distance to Downtown Redlands, which hosts an array of different restaurants, weekly Market Nights, Orange Groves, historic sites, and local parks!

$167,000 funded of $167,000

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  • Question:

    Please explain the difference in the purchase price cited in the appraisal and what is listed on the offering page.

    Answer by Patch of Land

    The borrower purchased a 50% ownership stake in the subject property for $945,600. On 09/21/2015, the borrower purchased an additional $650,000 of equity, increasing their total ownership stake to 82.5%, in the subject property. This change increased the purchase price to $1,560,240.

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