Private Lender Case Study: Venetian Masterpiece

/Private Lender Case Study: Venetian Masterpiece

Case Study: Venetian Masterpiece

By |2019-02-05T17:51:19+00:00February 1st, 2019|Case Study|0 Comments

Contemporary Venice, CA, fix-and-flip yields greater return than expected.

This contemporary home, built by ARI Design Group, is an architectural masterpiece. It features two swimming pools, more than 2,000 square feet of outdoor space, complete smart home functionality, a rooftop deck, a fireplace, fire pits and custom designer finishes.

Energy-efficient with “smart” features throughout, the home is within walking distance to local trendy shops on Lincoln and Abbott Kinney.

It was listed for sale during the final stages of construction. The borrower contacted Sunset Equity for a purchase loan that included rehab to complete the project.

Lender // Sunset Equity LTV // 75%
Client/Borrower // ETSD Venture Capital LTC // 60%
Location // Venice, California Credit Score // Repeat borrower with high credit score
Architecture Style // Contemporary Client/Borrower Experience // Experienced, repeat borrower
Originally Built // 1927 Interest Rate // 7.99%
Square Feed  // 3,150 Length of Loan // 12 months, with two 6-month extensions
Loan Amount // $2.025 million Rehab Costs // $750,000

Summary of Opportunity

Sunset Equity funded a purchase with rehab for an unfinished development. The fix-and-flip sold for $3,456,000, higher than the anticipated After Repair Value (ARV) amount and 59.2 percent higher than the original purchase amount. ∞

By |2019-02-05T17:51:19+00:00February 1st, 2019|Case Study|0 Comments

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