12602 Correnti Street, Pacoima, CA 91331

Pacoima
Local realty services provided by:ERA North Orange County Real Estate
12602 Correnti Street,Pacoima, CA 91331
$3,300,000
  • 0.21 Acres
  • Lots / Land
  • Active
Listed by: kelly morgan
Office: houze real estate management323-852-1372
MLS#:26832921
Source:CRMLS

Price summary

  • Price:$3,300,000

About this home

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.

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Home facts

  • Listing ID #:26832921
  • Added:7 day(s) ago
  • Updated:May 16, 2026 at 11:37 AM

Structure and exterior

  • Lot area:0.21 Acres

Finances and disclosures

  • Price:$3,300,000
Based on information from California Regional Multiple Listing Service, Inc. as of May 16, 2026 . 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. The information 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. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

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