• Steve Sinko

Conversion to Real Property

Estimated Closing Date: 01/08/2021

Property Address: E. Carey Ave. Las Vegas, NV 89156

Parcel Size: 5,227 sqft

Residential / Building Area: Modular Home – to be converted to real property

(1,488 approx. sq ft 3 Bed, 2 Bath & Studio Apt. Sitting on .15 acres)

Year Built: 1972

Loan Amount: $25,000.00

Approximate Value: $190,000.00

Loan to Value: 13% based on purchase price

Loan Term: 12 Months – 3 Month Prepay

Payments: Interest Only Payments

Property Zoning: Manufactured Home


To be Converted Modular Home / Single Family

Other useful information for the Investor: Property is fully gated with Bid renovations throughout. Spacious kitchen with island, breakfast bar, granite counters, newer stainless steel appliances, and upgraded fixtures. Large side yard with Studio/ Workshop and covered parking.


Fix & Flip Borrowers repair estimate attached ($9,875.00) of which $2k is miscellaneous/ Cont. Additionally there is a $4,200 Bid to convert along with $1,800 awning estimate for code. Value according to buyers as finished will be listed at $190,000.00


Exit Strategy: Sale




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