Transaction Details

Fix/Flip LOC Draw, NJ


Fix/Flip LOC Draw | 523 Ridgewood Ave, Glen Ridge, NJ 07028
Recently Funded

Sharestates Investments, LLC


Property Type: Single Family

Development Phase:

Full Renovation

Rate
9.5%
Loan to cost
79.98%
Loan to ARV
61.73%
Total Loan Amount
$926,000.00
Initial loan amount
$488,000.00
Rehab/Const Loan amount
$438,000.00
Transaction type
Purchase and Rehabilitation
Loan program
1 Year Fixed
Doc Type
Streamline
Amortization
Interest Only
Investment Summary
Building is 3,573 sqft on a 18,500 sqst lot. Two stories, finished basement, 2 car attached garage. 4 beds, 3.5 baths. A master suite is located on the first floor. The second floor will be ripped/replaced adding approximately 1,000 sqft to the house. The first floor will be reconfigured to a gracious center hall, changing a bedroom which is currently located off of the kitchen, to a grand kitchen/TV/living room area. The completed project will consist of a master suite on the first floor, 4 beds on the second floor which will included a master suite. A total of 3 baths will be located on the second floor. Basement will be finished to include a half bath, oversized rec room, and a double door walkout to the backyard, which is level with the basement. A small deck will be added, with access through the kitchen.
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