Price Reduction
Address
12602 Correnti St, Pacoima, CA
Price
$ 3,075,000
Property Attributes
- MLS#26866533
- TypeSingle Family
- Listing Status Active
- CountyLOS ANGELES
- CityPacoima
- AreaPacoima
- Zip91331
- Style
- Price$ 3,075,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size0.2066 Acres
Data Source:
Combined LA/Westside MLS (CLAW)
Property 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 2.48M 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 146.52% 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.
| Price History | |
|---|---|
| 7/31/2026 | Listed $3,150,000 |
| 9/1/2026 | 3$3,075,000 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 91331
Price
Visits
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