750 fico score real estate investor and real estate broker was seeking a business purpose loan to purchase this prime fix & flip opportunity in LA County.
Subject property currently is a single-story traditional style SFR situated on a large 25,592 sqft lot in Downey. The subject was built in 1949. Property has 2,171 sqft of living space, with 3 bedrooms and 2 bathrooms. Borrower intends to remodel the property adding 1,803 sf of additional living space to include a master bedroom suite, another bedroom, a gourmet kitchen, an enlarged family room, formal dining room, and more. A four car garage will be added, as well as adding multiple outdoor living spaces. The property is conveniently located near the I-5 and I-605 as well as schools, shopping, restaurants, recreation and medical facilities.
Recent Transaction – $450,000 Business Purpose Purchase, Downey, CA