Fix & Flip Loan for Single-Family Residence in Washington DC

Navigator Private Capital, a nationwide private real estate lender, funded a $1,486,700 1st lien position fix and flip loan for a single-family home in the Shepherd Park neighborhood of Washington DC. We funded 90% of the $1,200,000 purchase price and 100% of the $388,000 renovation budget, while the Borrower contributed 10% cash at closing. The after-repair value was estimated at $2,050,000 so our loan-to-after-repair value was 72%. Our Clients have done it again. They found a rather tired single-family property in a charming DC neighborhood and completely reimagined it. As it stands now, 1325 Holly Street NW is a head-turner that offers a rare opportunity to own a piece of American architectural history with this completely renovated 1914 craftsman-style home in the heart of a bucolic, tree-lined neighborhood. 

The home is big enough to comfortably fit a large family and then some! Boasting 7 bedrooms and 6.5 bathrooms overall, it includes elevator access to four levels spanning over 7000 square feet. The finished basement includes a rec room, professional-grade wine storage, in-law quarters with walkout access, a bedroom, two bathrooms, and a second laundry room, offering loads of rental income potential. The subject property was vacant at closing. It was approximately 4,847 square feet set in a 5,750-square-foot lot. The loan term was set at 18 months and later extended to 24 months. This SFR fix and flip loan was funded in May 2021.