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12602 Correnti St , Pacoima, CA 91331
$3,075,000
Est. Payment: $16,287.22/mo
0 Bed
0 Bath
0 Sqft
Status: Active | Days on site: 33
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CLW-X71068 - CLW-C121229
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Chris Heller
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House 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.
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Highlights

Listed by Kelly Morgan , 310-836-3638 Houze Real Estate Management , 323-852-1372. CRMLS/Multi-Regional MLS mls logo

Property Type

Vacant Land
Lot/Acreage
0.21

County

Los Angeles

Area

PAC - Pacoima

Listing ID

26866533

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:0

Exterior Features

Lot:No Land Lease
Garage Capacity:0
Zoning:[Q]C2-1VL-CUGU
Principal Interest
$16,287
Taxes
$1,960

Home Price

$3,075,000

Loan Details

30 yrs
6.952%

Down Payment

20%
$615,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$16,287.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $16,287.22 $1,960.31 $0.00 $18,247.53
Yearly $195,446.59 $23,523.75 $0.00 $218,970.34
Total $5,863,397.83 $705,712.50 $0.00 $6,569,110.33

Today's Rates

30 Year

6.95%

20 Year

6.73%

15 Year

6.35%

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Market insight data is pulled from the same city as the listing being viewed (Pacoima, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-09-23T13:02:28.000Z

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