0 Baths

$3,075,000

12602 Correnti Street, Pacoima CA, 91331

Price per sqft$341.63

Lot size0.21 Acres

Property typeLand

Overview

Active

Listed Oct 2, 2026

Updated 10h ago

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.

Additional information

MLS^® ID: 26996311

Exterior Features

Lot Size: 0.21 Acres

Other Property Details

55+/Senior Community: No

Listed by Kelly Morgan, Houze Real Estate Management, CA DRE 01898026

Listing Contact: 310-836-3638

Based on information from the CRISNet MLS as of 10/10/2026, 7:18 AM UTC. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.