Altadena, CA – May 2020

Acquisition Price: $820,000

Days Funded: 12

Term: 1 Year

LTV: 80%

This month’s Featured Flip comes from one of CIVIC’s repeat customers in Southern California.

When our investor acquired this Altadena property, he envisioned its incredible potential as it is located in a coveted neighborhood and offers a beautiful view of the San Gabriel Mountains. However, the house itself, originally built in 1947, was an outdated eyesore and was in desperate need of a total remodel!

CIVIC supported our borrower by offering an opportunity to recapitalize and gain liquidity through utilizing our Bridge Financing program. This allowed the investor to refinance mid-rehab and go on to complete the project, transforming this property into an exquisitely modernized farmhouse.

Dull red brick was replaced with a brand new board and batten exterior. The interior, once closed-off and compartmentalized, was revamped to have an open and airy vibe illustrated by natural toned wood flooring, stark white walls, and windows galore.

The new and improved property sold 51 days after being on the market and made a six-figure profit making this a win for our borrower and a win for CIVIC!

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