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12602 Correnti Street, Pacoima, CA 91331

$2,995,000 Approx. USD 0 beds, 0 baths

Reduced by $80,000 on 11/3/2026

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Kelly Morgan | Kelly@KellyMorganCommercial.com
Lic#: 01898026
Broker: Courtesy of Houze Real Estate Management
Phone: 310-836-3638

Agent Remarks

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.

Listing Details

Property type: (Lots/Land)

Status: Active

MLS# 26996311

List price is $2,995,000 Reduced by $80,000 on 11/3/2026

Price: $2,995,000

Beds: 0

Baths: 0

0.21 acres

Lot size: 0.2066

County: Los Angeles

Zoning: [Q]C2-1VL-CUGU

MLS area: PAC - Pacoima

Last Updated: 11/3/2026

Days On Market (DOM): 32

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This listing belongs to the PAC - Pacoima MLS area

Lat/Long: 34.253021, -118.407578.
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