A full remodel of a worn-out home in a popular Los Angeles-area neighborhood exceeds expectations, in spite of the pandemic.

This traditional home is nestled in the San Fernando Valley region of Los Angeles, with access to great restaurants, shops, and essentials. But it was worn out and in desperate need of a modern touch to restore it to a vitality that matched the neighborhood’s.

The borrower embarked on a complete top-to-bottom remodel that included opening the floor plan to create a more modern feel. In addition, a large, open family room and an entertainer’s open kitchen that backs onto a beautiful pool and open backyard were created To complete the makeover, all new appliances, flooring, and high-end material were incorporated to give the home a brand-new feel.

The loan for the home originated in December 2019. The goal was to sell the home in 12 months or less, at the highest and best price. But then COVID-19 hit in March 2020. Even so, work on the project continued, despite the halt of funding for many other projects throughout the country. The borrower was able to complete the remodel and sell the home in just 9 months—it closed escrow in October 2020, despite the pandemic.

The home not only sold quickly, it sold at a record price for that area.

Triumph Capital Partners’ commitment to working together to find solutions during a pandemic and being a true capital partner allowed the borrower to make a very good profit and turn that into their next project, which Triumph Capital Partner recently funded. Because of this loan, the borrower has confidence to execute on future projects with Triumph Capital Partner as their lender.

Lender: Triumph Capital Partners

Client/Borrower: H Stack London LLC

Location: 19605 Rosita Street, Tarazana, California 91356

Architecture Style: Traditional

Year Built: 1972

Square Feet: 2,681

Loan Amount: $1,192,500

LTV: 85%

LTC: 87.65%

Credit Score Considered: Yes, 758

Client Borrower Experience Level: The borrower was looking for a higher leverage loan but did not qualify based on experience under standard guidelines. But, after considering the borrower credit score, the location of the property, and the borrower’s previous experience being “like-for-like” projects, the lender was able to get the borrower leverage maxed out and make an exception.

Interest Rate: 8.49%

Loan Term: 12 months

Rehab Budget: $3,000,000