12602 Correnti Street, Pacoima, CA — listing photo 1
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FOR SALENew Listing

12602 Correnti Street

Pacoima, CA 91331
9,001 Lot Sq Ft
$3,075,000

Property Overview

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.

Home Details

Property type
Land
Lot size
9,001 sq ft
Days on market
8
MLS status
Active
Zoning
[Q]C2-1VL-CUGU

Community, Schools & Utilities

Community

View
None

Location & Neighborhood

12602 Correnti Street

Pacoima, CA 91331

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Frequently Asked Questions About 12602 Correnti Street

Property type: Land

The current asking price is $3,075,000. Pricing is subject to change and may vary based on market conditions, negotiations, and property updates. Contact our team to verify current pricing.
Yes. Use the Book Visit action or contact form to request an in-person or virtual tour of 12602 Correnti Street. Our team will confirm availability and timing.
This property offers the living space reported in the listing. Review the listing details and disclosures, then independently verify material features before making a decision.
The property is in Pacoima, California. Review the map, visit at relevant times of day, and verify schools, commute routes, services, noise, hazards, and local rules for the exact address.
Financing depends on the buyer, lender, property type, condition, appraisal, insurance, and association documents. A qualified lender can confirm available programs and costs for this Pacoima property.
The MLS currently reports the property as Active. It has been listed for 8 days. Status can change, so verify availability before relying on it.

What clients say

“Reza was the best agent we have ever worked with.”Russell & Susan McQueen

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Crown Coastal Support Team

Direct support from our real estate team

No obligation. Your inquiry goes directly to the Crown Coastal team.

RB

Reza Barghlameno

eXp of California

Call: +1 (858) 305-4362
Email: contact@crowncoastalhomes.com

Listing Agent

Name: Kelly Morgan
MLS ID: CLW-C121229

Available property

$3,075,000

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Data provided by California Regional Multiple Listing Service, Inc. ("CRMLS"). Information is for viewer's personal, non-commercial use. All data should be independently verified for accuracy.