Listing photoSan Jose, CA 95123 · MLS ML82059908
"LOOKING FOR GREAT CASH FLOW? THIS IS AN INVESTOR'S DREAM!"
5871-73 El Dori Dr is a 5-bedroom, 4-bath home in San Jose, California listed at $1,600,000 with 2,414 square feet, built in 1969. 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 ($160,000), we fund the $108,630 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. LOOKING FOR GREAT CASH FLOW? THIS IS AN INVESTOR'S DREAM! Turnkey investment opportunity w/good tenants in place, strong rental income. Major improvements, as termite repairs have already been completed, including a new 30yr roof w/warranties on labor & materials. Both units offer easy low maintenance living w/laminate flooring throughout, appliances included, granite & tile countertops, ceiling fans, dual-pane windows & well-maintained A/C units in both units. Unit 73 features fresh paint. Exterior features offer low-maintenance turf in both front & backyards. Centrally located near hwy 85 & 87with easy interchange to 280/680 highways. Oakridge shopping ctr, dining, eateries are w/in walking distance Established neighborhood w/similar properties.Unit 73, which is a 3/2 shows unfurnished & virtually staged furnishings. Unit 71, is 2/2 interior images are on Zillow from previous listing. Similar properties in this long tree lined neighborhood . Whether a seasoned investor or new to the world of investment property, you do not want to miss this opportunity. Pre-approved buyer w/strong EMD preferred. Both units are tenant occupied. Disclosure package is forthcoming. Seller is out of state, allow time to respond.
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 | Pre-screen | Yes |
| Buyer down payment | $160,000 (10%) | $560,000 (35%) |
| Loan at closing | $1,440,000 | $1,040,000 |
| Cosmetic renovation, rough estimate* | We fund $108,630 | Buyer pays $108,630 |
| Total loan | $1,548,630 | $1,040,000 |
| Rate, interest only | from 9.25% | 10.5% |
| Points | 1.5 ($23,229) | 1.5 ($15,600) |
| Appraisal | Required | None |
| Estimated monthly interest | $11,937 at full draw | $9,100 |
| Cash to close, rough estimate | $187,619 | $575,600 |
Rough estimates at the list price of $1,600,000 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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