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May 26, 2015 2:33 PM ET

Archived: CLASSIC CRAFTSMAN STYLE HOME IN EAST ATLANTA VILLAGE (EAV): Offered is an Addition and Renovation of an existing 2/1 on main level with 1/1 on the terrace level that is approximately 928 SF on the main level

iCrowdNewswire - May 26, 2015


About the opportunity:



Address:511 Blake Avenue, Atlanta, GA 30316
Construction Manager:LCM, Inc.
Property Type:Single Family Resedential Renovation and Addition
Investment Type:Debt, Secured by the property.  Security is subordinate to bank financing
Interest Rate

and Revenue Share:

8% base rate plus abonus based on sales price

  • If the Sales Price is $350,000-399,999, then the total returnwill be increased to 8%, even if the note is repaid in less than 12 months
  • If the Sales Price is $400,000-430,000,  then the total returnwill be increased to 10%, even if the note is repaid in less than 12 months
  • If the Sales Price is greater than $430,000, then the total returnwill be increased to 12%, even if the note is repaid in less than 12 months
Term:12 Months


Sales Price:$350,000-$430,000
Purchase Costs:$130,000
Soft Costs:$5,000
Hard Costs:$140,000
Sales Commissions:$8,250
Closing Costs:$5,000
Warranty:(1 Year Renovation Warranty)
Total Cost:$288,250
Projected Profit:$61,750-141,750


Selected Comps (via Zillow)

Offered is an Addition and Renovation of an existing 2/1 on main level with 1/1 on the terrace level that is approximately 928 SF on the main level. This new opportunity includes raising the roof to create an additional 844 SF on the second newly raised level, while improving all remaining aspects of the existing structure. This process provides a completely recreated craftsman style home with 4/4 on the top two floors, not including the terrace level with a Live in Suite. This improvement would also allow for a newly improved Glenwood porch/frontage in addition to improving the Blake porch/frontage, while adding upper, covered bedroom porch areas and a kitchen/living room with direct access to side deck/patio areas, resulting in four covered deck/patio areas outdoors.

Newly constructed Second Level features: a Master Bedroom with Private Bath, Walk In Closet, Private Fireplace and Private Covered Porch; Large Laundry; Secondary Bedroom with Private Covered Porch and an additional bathroom.

Other features throughout the home include: 2 Office/Bedrooms on Main with direct porch access, Fireplace in Living Area, Fully Renovated Kitchen with new Solid Surface Tops and Large Island Bar Top, Open Kitchen/Living/Dining Floor Plan for entertaining connected to Private Covered Porch, Terrace Level Suite with Bedroom, Bathroom, Kitchenette Hook Ups and Entertaining Room, while leaving additional space for interior Mechanical and Storage Room, Private Wrought Iron Style Fencing around Entire Property, Stone Veneered Entry Patio, New Hardie Siding and Shake Exterior.

About the property:


Square Footage
Upper Level844
Garage:Parking pad 1-2 cars
Patio(4):620 sqft total
Front Porch:200 sqft
Note – Based on architect’s estimates
Acerage.15 Acre (6,330 sqft)
TopographySloped corner to corner
  • Siding/Shakes – Hardiplank
  • Stone Veneer (per rendering)
  • Front Porch – Stone Veneer on Blake/Wood Column and Hardiplank on Glenwood
  • Gutters – 5″ gutters with downspouts
  • Shingles – 25 Year Architectural Shingle
Ceiling Height:8′ Main level, 8′ Upper level
Site Finished HardwoodMain Floor(Living, Kitchen, Dining, Bedroom/Offices, Closets)
CarpetAll Bedrooms and Closets
Ceramic TileAll Bathrooms and Terrace Suite
BaseAll finished areas on main and upper
CrownAll finished areas on Main and Upper, except Closets and Laundry
TrimAll Windows, Doors, and Openings
Family RoomVentless Gas Log
KitchenPaint Grade
Master BathStain Grade
Secondary BathsPaint Grade
Master BathGranite
Secondary BathsGranite
Kitchen BacksplashGranite
  • Appliances – Stainless Steel
  • Gas Burner Cooktop and Oven Range
  • Dishwasher
  • Microwave
  • Beverage Refrigerator
  • Garbage Disposal
LightingRecessed 6″ Cans Throughout Upper and Main, Pendants and Globes as needed
Interior Doors6 panel 3070
Door HardwareBrushed Nickel
Main Level2 Ton – Gas Programmable Zones
Upper Level2 Ton – Gas Programmable Zones
Sink Faucets/ShowerBrushed Nickel
SinksStainless Double Bowl Kitchen, Porcelain Single Bowl Baths
Water Heater50 Gallon Gas
Master BathWalk In Ceramic Tile Shower and Soaking Tub
Secondary BathsComposite Tubs with Ceramic Tile Surround
ToiletsEasy Height Toilets
Hose BibsExterior, Minimum 2 Each
AtticR-33 blown
2 x 4 Exterior WallsR-13
Caulkingper state code
ShelvingMetal Shelving in Closets and Pantry
Allowances (Pre-sale)Carpet, Ceramic Tile, Hardwood, Plumbing Fixtures, Lighting, Appliances, Mirror, Shelving, Bath Accessories, Landscaping, Irrigation

Photo Gallery:

The higher resolution version of the plans can be downloaded from the documents section.

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