Historic brick duplex in San Marco requiring conversion into a high-end luxury single-family residence.
LOAN AMOUNT
$465,000
Permit conversion review required flexible loan extension options without penal upfront points.
Provided $465,000 bridge loan featuring a 12-month initial term with built-in 3-month extension options.
The Outcome
Successfully completed conversion and sold for $660,000 to an executive relocating from Atlanta.
Deal Highlights
LOAN AMOUNT
$465,000
PURCHASE PRICE
$380,000
RENOVATION BUDGET
$125,000
FINANCING
90% LTV + 100% Rehab
AFTER-REPAIR VALUE
$645,000
PROJECT DURATION
9 Months
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