Los Gatos, CA

$1,500,000

Single Family Residence

Purchase

01/30/2018
Transaction by
Stonecrest Financial
Our borrower is a past client and active real estate investor. He wants to purchase a Los Gatos property for his portfolio. The property is a great deal and he plans to fix and flip it. Stonecrest provided him with a 1st mortgage of $1.5MM. The purchase price was $2.2MM and the borrower put down $700K in cash. The subject property is a 2-story single family home that has 4 bedrooms and 3 bathrooms, is 3,697 sq ft and sits on 1.23 acres. There is an additional finished 690 sq ft basement. This home was built in 1986 and is surrounded by beautiful, mature landscaping with an oasis in the backyard featuring an in-ground pool and hot tub. Stonecrest funded this bridge loan in January 2018