$3,300,000

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 12 days ago

Property Description

14 Existing Renovated units + plans for 20 New market-rate units cash flowing at an amazing Current Cap Rate of 7.5% from day 1! Attractive 2.5M assumable loan (requiring only ~25% down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 12.2% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 13.9% Cap Rate, 5.7 GRM, and only 146k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The project is anticipated to deliver over $2.7M in net profit after all construction and resale costs, yielding an exceptional 117% 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:
May 20, 2026 at 7:06AM
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 $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location