A classic mid-century home 3 blocks from Atlantic Avenue with prime expansion and pool addition potential.
LOAN AMOUNT
$720,000
Heavy structural changes required zoning approval and rapid draw disbursements for contractor continuity.
Adler Capital funded $720,000 with a 48-hour inspection and draw turnaround protocol to keep trades on site.
The Outcome
Sold within 14 days of listing for full asking price of $995,000, creating $175,000 in net investor return.
Deal Highlights
LOAN AMOUNT
$720,000
PURCHASE PRICE
$580,000
RENOVATION BUDGET
$200,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$995,000
PROJECT DURATION
8 Months
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A New York investor acquiring an 8-unit brownstone in Crown Heights - $3,800,000 purchase, 95% occupied, $34,000/month gross rent. Seller needed to close in 30 days or the deal was dead.
A Coral Gables Mediterranean-style home - 4/3, original 1970s kitchen and baths, popcorn ceilings throughout. Purchase: $695,000. Updated homes in the same streets were trading at $1.1M+.
A seasoned South Florida investor spotted a dated 3/2 in Coconut Grove - great bones, terrible finishes. Asking: $310,000. Comps for fully renovated homes were hitting $620K-$650K.
