Transaction Details

Fix/Flip LOC Draw, NJ


Fix/Flip LOC Draw | 7 Highland Ave, Glen Ridge, NJ 07028
Recently Funded

Gracious Properties, LLC


Property Type: Single Family

Development Phase:

Full Renovation

Rate
8.49%
Loan to cost
90%
Loan to ARV
73.69%
Total Loan Amount
$663,224.00
Initial loan amount
$427,500.00
Rehab/Const Loan amount
$250,000.00
Transaction type
Purchase and Rehabilitation
Loan program
Fix/Flip LIne of Credit
Doc Type
Streamline
Amortization
Interest Only
Investment Summary
Currently the house is 2349 sq/ft., 3 floors, with 3 beds, 1.5 baths. We will putting on a multi-floor addition, extending the foundation/basement, 1st floor & 2nd floor, adding over 1000 sq/ft to the total square footage. The addition will include 2 more beds, 2 more full baths & 1 more half bath. The third floor is currently unfinished and will be finished into a suite or thrid floor den with a full bath. A dormer will also be added to the rear of the house with a large bay window facing the east. With this dormer and window, you will have NYC views. All appliances will be high end, flooring will be mostly hardwood. There is a 1 car detached garage that will receive a new roof, new door, and painted.
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