For Sale
$3,150,000
Est. $17,640/mo12602 Correnti Street, Pacoima, CA 91331
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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% 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 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.
Property Facts
bathtub
Bathrooms
0
landscape
Lot Size
9,001 sqft
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Days on Market
0
payments
HOA Fee
N/A
fingerprint
MLS #
26866533
Interior Details
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Exterior & Lot
Mortgage Calculator
Total Monthly
$0
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Nearby Schools
| Rating | School Name |
|---|---|
4 | Haddon Avenue Elementary Elementary School |
4 | Pacoima Middle Middle School |
9 | Vena Avenue Elementary Elementary School |
N/A | Guardian Angel Elementary Private School |
6 | Sara Coughlin Elementary Elementary School |
Convenience Score
Market Insights
91331|Pacoima
analytics
Estimated Value
Calculating...
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Market Temperature
Seller'sBalancedBuyer's
0d30d60d180d
Balanced
Balanced market
30 Days
Avg. time on market
This is a Balanced Market. Homes are selling at a moderate pace.
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Flood & Climate Risk
Flood Risk
Minimal — not in a FEMA flood zone
Wildfire Risk
Moderate — near wildland-urban interface
Heat Risk
Low — moderate summer temperatures
Earthquake Risk
Southern California seismic zone
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Noise Levels
TrafficQuiet residential street
AirportMinimal airport noise
CommercialLow commercial activity nearby
streetview
Open Full Street Viewopen_in_newStreet View
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