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The Challenge
This purchase involved a historical property with little to no comparable sales, making valuation difficult from the start. The interior had been completely gutted, which limited both financing and insurance options. On top of that, the buyers were purchasing through a newly formed corporation with no two-year tax history. Between the lack of comps, the property condition, and the new entity structure, most lenders would not approve this loan under standard guidelines.

The Solution
The loan was structured creatively to support value beyond traditional comps, insurance was secured during renovation, and underwriting concerns were addressed by leveraging the buyers’ financial strength and experience. The buyers successfully closed on the property and moved forward with their renovation, turning a near-dead de

Property Details

Price: $2,383,000

City: Glendale

State: CA

Zip Code: 91206

Beds: 5

Baths: 3