This 1939 built single family row-home will get a complete interior/exterior renovation, as well as a bump up and bump out. Starting at 1500 sq. ft., the home will be converted into 2 Condo Units at 1500 sq. ft. each, totaling 3000 sq. ft. Please see the conceptual drawings below. Unit 1will utilize the basement and 1st floor and be built as a 3 Bedroom and 2 ½ Bathroom residence. The ARV Appraisal is $830,000.00. Unit 2 will utilize the 2nd and 3rd floors and be built as a 3 Bedroom, 2 ½ Bathroom residence with a roof top terrace. It's ARV Appraisal is $860,000.00. The property is currently zoned for 2 units, so the project will only require a standard permitting process. It is anticipated that permitting will take 2 months and construction will take 6 months. The total time for the project should be 10 months. The average Days on Market is 5-8 days. Most Buyers are All-Cash Buyers. The total time for this investment has been adjusted to 12 months. The extra 2 months are to allow for any delays in permitting or construction, due to weather conditions in the winter. We are looking for a GAP funds or a private investor to fund the entire project.
Future Loan to Value
APN Parcel ID
Will additional properties be collateralized?
Borrower Credit Rating
The deal needs fast funding as we are out of time to close. Lost original funding due to change in terms.