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Listed by: Kelly Morgan (310) 836-3638 DRE #01898026 | Houze Real Estate Management (323) 852-1372
$3,150,000
-- Bed
-- Bath
9,001sqft lot
12602 Correnti St, Pacoima, CA 91331
$3,150,000
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Land
Built in -
$-- HOA
9,001 sqft lot
$350/sq.ft
Description
PRICE REDUCTION! 14 Existing Renovated units + plans for 20 new market-rate units cash flowing at an amazing Current Cap Rate of 8% from day 1! Attractive 2.5M assumable loan (requiring only ~17% down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 15.7% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 14.3% Cap Rate, 5.6 GRM, and only 141k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The project is anticipated to deliver over $2.7MM in net profit after all construction and resale costs, yielding an exceptional 125.9% return on levered equity. The plans ...
Continue Reading- Houzeo last checked: 26 minutes ago
- Listing updated: August 25, 2026 at 4:57 pm
- Source: California Regional MLS-CA | MLS#: 26866533
Property Details
Status
Active
Type
Land
No. of Stories
-
County
City
Neighborhood
Year Built
-
HOA Fees
-
Finished Area
- sqft
Lot Size
9,001 sqft lot
Basement Area
- sqft
MLS Name
California Regional MLS
MLS Number
26866533
MLS Status
Active
Days on Market
28
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