Charlotte, NC - August 2022
Small but mighty! Transforming this custom-built 1950s home into the Queen City masterpiece.
First plan of action... make the space bigger and this experienced investor did just that! By doubling the square feet from just over 800 to 1650, they created an open-concept floor plan that allows for an effortless flow between rooms. The bright & airy reinvention of the kitchen includes the addition of an island, fresh paint, and upgraded stainless steel appliances, giving this space a full transformation. Remodeled bedrooms and bathrooms featuring updated fixtures and flooring are right on trend with present-day design styles. The increased space, combined with the modern design upgrades gives this property a contemporary sophistication that makes its location in Charlottes Art District very fitting.
Returning to CIVIC for their financing needs, the investor leveraged our short-term bridge loan to acquire the property and was able to stay liquid through renovations with 100% rehab financing! As we like to say... CIVIC financing is here to help you from acquisition to sale so upon completion, they were able to refinance after (yes after!) it was listed on the market with 80% LTV Cash Out to release some of their equity and use the cash out funds they received to acquire a new property.
The beautifully renovated property's time on the market was short-lived upon hitting the market. Just one day after it was listed our investor received a cash offer that resulted in a sale of $600,000!