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Malibu, CA - June 2022
A reinvented 1962 Malibu property that puts a modern spin on the classic white & bright beach house.
The completely remodeled exterior features oversized windows and sliding glass doors that drench the living space with natural light, creating a refreshing indoor-outdoor concept. Inside this 2,136 sq ft property are all new fixtures, combined with modern finishes and stunning neutral flooring that flows throughout the home. From exterior to interior, this investors eye for design gives the property a more curated look inside & out.
Scoring an off-market deal, our experienced borrower was able to purchase this property at a discount and returned to CIVIC to get the deal done. With the help of our financing, they received 80% LTV, which came out to 85% of the borrowers' purchase price. But wait it doesn't stop there! With no prepayment penalty for CIVIC's 1-year bridge loan, this investor was able to complete the renovation and list the property within a quick, three-month timeframe, and pay off their loan with no additional fees.
With the right financing and increased leverage, our client was able to maximize their profits, ultimately generating a greater cash on cash return, resulting in a sale of $3,225,000!