Berkeley Hills, CA – Fix and Flip Renovation Loan - Image 1Berkeley Hills, CA – Fix and Flip Renovation Loan - Image 2Berkeley Hills, CA – Fix and Flip Renovation Loan - Image 3

At a Glance

Berkeley Hills, CA

Size 2,964 square feet
Loan $840,000
Value $1,400,000
LTV 60%
Term 9 months

The subject property is a single-family home in the Berkeley hills with a 3 bedroom, 2.5 bath main house plus a 1 bedroom, 1 bath apartment.  The home sits in a high-end community of the Berkeley Hills with sweeping views of the San Francisco Bay and the Bay Bridge.

The borrowers approached Hamilton Ridge to provide a purchase-money loan in addition to funds to renovate the entire property.  Hamilton Ridge provided a $840,000 loan with the $200,000 investment budget held in a construction fund control account and disbursed as the project reached milestones.  The borrowers used the budget to update the entire property including new kitchens, baths, and landscaping.  Although the as-complete appraisal came in at $1,400,000, the property sold for $1,525,000.

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