Listing photoSan Diego, CA 92104 · MLS 226120446
"light fixer condition provides an opportunity to update and make it your own"
3646 Cherokee Ave is a 3-bedroom, 1.5-bath home in San Diego, California listed at $749,000 with 1,092 square feet, built in 1937. The seller is asking for cash or hard money, so it is priced here on our fix and flip loan: an investor with 1 to 2 completed projects and a 740 score puts 10% down ($74,900), we fund the $49,140 renovation estimate in draws, and the loan closes in 2 weeks. The down payment steps with experience, credit and the size of the renovation. 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. Opportunity awaits in San Diego's desirable North Park area! Built in 1937, this 3-bedroom, 2-bath home offers 1,092 sq. ft. of living space and plenty of potential for its next owner. Original wood floors showcase the home's vintage character, while the light fixer condition provides an opportunity to update and make it your own. One of the property's standout features is the spacious .24-acre lot, extending all the way to the alley and offering an abundance of outdoor space and possibilities. The service panel has been upgraded to a 200 amp breaker on the property and it is zoned R-2 Minor Multiple, adding another dimension of potential for buyers to explore. Buyer to verify permitted uses, development potential, zoning requirements, and any restrictions with the City of San Diego. Whether you're looking for a home to personalize, an investment opportunity, or a property with room to explore additional possibilities, there's plenty to work with here. Enjoy a convenient North Park location with easy access to shopping, dining, entertainment, and all that San Diego has to offer. Bring your vision and discover the possibilities at 3646 Cherokee Ave!
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 | $74,900 (10%) | $262,150 (35%) |
| Loan at closing | $674,100 | $486,850 |
| Cosmetic renovation, rough estimate* | We fund $49,140 | Buyer pays $49,140 |
| Total loan | $723,240 | $486,850 |
| Rate, interest only | from 9.25% | 10.5% |
| Points | 1.5 ($10,849) | 1.5 ($7,303) |
| Appraisal | Required | None |
| Estimated monthly interest | $5,575 at full draw | $4,260 |
| Cash to close, rough estimate | $90,139 | $269,453 |
Rough estimates at the list price of $749,000 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.
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