The first loan of $315,000 (60% LTV)is a private held note and may be assumable to a qualified Buyer at 7% fixed interest rate with monthly payments of $ 2,095.70(i.e. based upon a 30-year amortization schedule). The note has a balloon payment provision making it all due and payable on 8 / 1 / 2017 and also contains a due on sale clause. Sellers may also consider carrying a large 2nd deed of trust for qualified buyer on very favorable terms. Perhaps 7.5% interest accruing with no payments for 2 years and then interest only monthly payments for another 5 years thereafter with a balloon payment provision making it all due and payable 7 years from the close of escrow? Sellers also own 7 more triplexes across the street that they have listed for sale between $268,950 and $279,950. Merced Park complex has 63 units. All units are similar and feature 1 bedroom 1 bathroom with a one car carport. The heater is a wall furnace, and the units are cooled with a swamp cooler (affordable for the tenant, more cost effective for the owner than central heat & air). This construction allows for lower long term maintenance costs. This offering is for two triplexes on a single parcel.

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Last Update 09/23/07

This information has been secured from sources we believe to be reliable, but we make no representation or warranties, expressed or implied, as to the accuracy of the information. All references to age, sq. footage, income, and expenses are approximate. Buyers should conduct their own independent investigations and rely only on those results.TRG

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