$3,150,000

12602 Correnti Street, Pacoima (los Angeles), CA 91331

  • Property Icon Land
  • Property Year Built Icon Built in ——
  • Property Lot Size Icon8,999sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 1 month ago

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 2.5M assumable loan (requiring only ~17% down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 15.79% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 14.4% 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 $2.79MM in net profit after all construction and resale costs, yielding an exceptional 125% 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.

Listing Status:
Active
Date Added:
May 8, 2026
Data Last Updated:
July 5, 2026 at 7:07PM
Listing Office:
Houze Real Estate Management : 323-852-1372
Listing Agent:
Kelly Morgan : 310-836-3638
MLS ID:
CL26832921
  • County: Los Angeles
  • Zoning: [Q]C2-1VL-UNAVAILABLE
  • View: None

This listing courtesy of Kelly Morgan , Houze Real Estate Management

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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