Listing photoOakland, CA 94605 · MLS 226115367
"INVESTOR SPECIAL!!!!! Beautiful 2 bedroom 2 bathroom home available at the right price. With breathtaking views of the San Francisco Bay Area, this home can easily transform into your own private paradise. Get your contractor tools ready! Plenty of space for an ADU or in-law unit, with the backyards natural terracing. Elevate your living, and come experience the sought after Oakland Hills."
7983 Michigan Ave is a 2-bedroom, 2-bath home in Oakland, California listed at $499,999 with 1,318 square feet, built in 1945. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with at least one completed project puts 10% down ($50,000), we fund the $59,310 renovation estimate in draws, and the loan closes in 2 weeks. A first flip puts 20% down. A California buyer can also close in 3 days with 35% down and no appraisal. See every hard money opportunity in California or our California hard money lending page.
From the listing. INVESTOR SPECIAL. 2 bed, 2 bath, 1,318 sq ft single-family home built 1945 on an 8,102 sq ft lot in the Oakland Hills with San Francisco Bay Area views. Space for an ADU or in-law unit on a naturally terraced backyard.
Preset with the list price and our rough renovation estimate. Change your score, your experience, the budget or the after-repair value and the numbers below move with them. Nothing is pulled and nothing is saved.
| Item | Option 1: 35% down | Option 2: 10% down |
|---|---|---|
| At closing | ||
| Qualifies as entered | Yes | Yes |
| Buyer down payment | $50,000 (10%) | $175,000 (35%) |
| Loan at closing | $449,999 | $324,999 |
| Cosmetic renovation, rough estimate* | We fund $59,310 | Buyer pays $59,310 |
| Total loan | $509,309 | $324,999 |
| Rate, interest only | from 9.25% | 10.5% |
| Points | 1.5 ($7,640) | 1.5 ($4,875) |
| Appraisal | Required | None |
| Estimated monthly interest | $3,926 at full draw | $2,844 |
| Cash to close, rough estimate | $62,030 | $179,875 |
Rough estimates at the list price of $499,999 for a 740 score and 1 completed project. This is not a commitment to lend.
*Every figure on this page is a rough estimate. The renovation budget is a super rough placeholder at $45 per sq ft, not a bid or an inspection; get your own contractor numbers before you offer. Indicative estimate for discussion, not a commitment to lend. Business-purpose loans to investors only; final terms are set at submission. Fix and flip loans are sized on an appraisal and must stay under 75% of after-repair value. 10% down is for experienced investors; first-time flippers put 20% down. The no-appraisal option is available in major California markets. Fix and flip fees include administration, documents, legal, draw inspections and servicing. Title, escrow and taxes are not included.
More hard money deals in Oakland All California opportunities Hard money lender in California Fix and flip loans Every live opportunity
Investor special"Great opportunity for owner/investor. Live in one unit and rent out the other. Cosmetic fixer close to everything."
Investor special"This is a perfect opportunity for an investor/end-user to remodel/renovate! Rent both the main home and the ADU OR live in one and rent the other. This fixer upper offers incredible potential for investors, contractors, or buyers looking to customize a home to their vision."
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