12602 Correnti Street, Pacoima, CA 91331

Pacoima
Local realty services provided by:Better Homes and Gardens Real Estate Wine Country Group
12602 Correnti Street,Pacoima, CA 91331
$3,075,000
  • 0.21 Acres
  • Lots / Land
  • Active
Listed by: kelly morgan
Office: houze real estate management323-852-1372
MLS#:26996311
Source:CRMLS

Price summary

  • Price:$3,075,000

About this home

PRICE REDUCTION! 14 Existing Renovated units + plans for 20 new market-rate units cash flowing at an amazing Current Cap Rate of 8.0% from day 1! Attractive 2.48M assumable loan (requiring only ~19% down) at an incredibly low rate of 3.98% fixed through 09/01/2027 yielding a remarkable 16.2% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 13.9% Cap Rate, 5.52 GRM, and only 139k/unit after taking into account all the construction costs (~1.67M assuming $250/SF). The project is anticipated to deliver over $3.2MM in net profit after all construction and resale costs, yielding an exceptional 146.5% return on levered equity. The plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units by right in the front for a total of 20 new units. The 14 existing units have undergone many capital improvements including updated roof, electrical, plumbing, windows, interiors, exteriors, etc.

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Home facts

  • Listing ID #:26996311
  • Added:5 day(s) ago
  • Updated:October 08, 2026 at 11:26 AM

Structure and exterior

  • Lot area:0.21 Acres

Finances and disclosures

  • Price:$3,075,000
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