Fix-N-Flip Deal Remodel and ADU Addition Project
- Property Location: Canoga Park CA
- Purchase Price: $575,000
- Remodel Cost: $450,000
- Sales Price: $1,550,000
- Gross Sales Profit: $475,000
Deal Description: Purchased outdated 3bed 2bath 1431 Sqft SFR on 9819 Sqft Lot for $575,000 ($25,000 over asking price). Added 360 Sqft master bedroom to the existing SFR. Converted two car garage into 400 sqft single with full kitchen and bath. Built a 1200 sqft 3 bed 3 bath ADU in rear legally converting the property into 3 legal units. Property sold for $1,550,000. At time of sale front house was renting for $5,000 per month, the rear ADU was renting for $4000 per month and the Jr ADU was renting for $1800. All information provided is verifiable on MLS and County Recorders Office for the City of Los Angeles.
Fix-N-Flip Deal Double Lot SFR and ADU Project
- Property Location: North Hollywood CA
- Purchase Price: $900,000
- Remodel Cost: $1,200,000
- Sales Price: $1,435,000 and $1,400,000
- Gross Sales Profit: $735,000
Deal Description: Purchase 3 bedroom 2 bath 2000 Sqft SFR sitting on two legal lots totaling 13,500 Sqft (6750 Sqft each lot). Existing home was demolished and built was a 4 bedroom 4 bath 2182 sqft SFR in the front and 3 bedroom 3 bath 1200 sqft ADU in the rear on each lot. One of the property’s sold site unseen within minutes of coming on the market for $1,435,000 and the other property sold for $1,400,000 in 41 days. All information provided is verifiable on MLS and County Recorders Office for the City of Los Angeles
Fix-N-Rent Double Lot Deal (Cleon BB1)
- Property Location: North Hollywood CA
- Purchase Price: $735,000
- Remodel Cost:1,300,000
- Project Total: $2,035,000
- Completion:
- (2) SFR 2316 Sqft 4 Beds 4Baths
- (2) ADU 1200 Sqft 3 beds 2 Baths
- (2) Jr ADU 200 Sqft Single
- SFR Monthly Rents: $5500 SFR
- ADU Monthly Rents: $4500
- JR ADU Monthly Rents: $1,500
- Annual Rents (Both Property’s): $276,000
- Annual Expenses (30%): $82,800
- Cap Rate: 9.5
- Current Cash Flow
- Appraised Value: $5,000,000
- Current Equity
Deal Description: Purchased a newly remodeled SFR for $735,000. Property was sitting on two legal lots totaling 13,550 (6775 each lot). The newly remodeled SFR was demolished. On each lot in the front was built a 2209 Sqft 4 bedroom 4 Bath SFR. In the rear of each lot was built a 3 bedroom 2 bathroom ADU over a 3 car garage and a recreation and storage room which were later converted into a JR ADU.
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- Property Location: North Hollywood CA
- Purchase Price: $1,200,000
- Remodel Cost:1,000,000
- Project Total: $2,700,000
- Completion:
- (2) SFR 2316 Sqft 4 Beds 4Baths
- (2) ADU 1200 Sqft 3 beds 2 Baths
- (2) Jr ADU 200 Sqft Single
- SFR Monthly Rents: $5500 SFR
- ADU Monthly Rents: $4500
- JR ADU Monthly Rents: $1,500
- Annual Rents (Both Property’s): $276,000
- Annual Expenses (30%): $82,800
- Cap Rate:
- Current Cash Flow
- Appraised Value: $5,000,000
- Current Equity
Deal Description: Purchased outdated SFR for $1,200,000 Property was sitting on two legal lots totaling 13,200 Sqft (6600 each lot). The existing house was demolished. On each lot in the front was built a 1599 4 bedroom 3.5 bath SFR with an attached 296 Sqft 1 bedroom 1 bath Jr ADU. In the rear was built a 1113 Sqft 3 Bedroom 3.5. In April 2023 the property was Refinanced with a $1.5 million DSCR loan on each property and has a positive cash flow.
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