12602 Correnti Street, Pacoima, CA 91331 (MLS # 26996311)

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PRICE $3,075,000 dsIDX morgage calculator
BEDS 0
BATHS 0
HOME SIZE n/a
LOT SIZE 9,000 sqft

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.

DAYS ON MARKET 1 LAST UPDATED 10/2/2026
YEAR BUILT 0 COMMUNITY PAC - Pacoima
COUNTY Los Angeles STATUS Active
PROPERTY TYPE(S) Lot/Land/Acreage


ADDITIONAL DETAILS
AREA PAC - Pacoima
LOT 8999 sq ft
LOT DIMENSIONS 9001
VIEW DESCRIPTION None
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Listed with Houze Real Estate Management

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