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About the Listing CLW-X71068 - CLW-C121229
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 Highlights
Status
Active
Days on Site
12
Property Type
Multi-Family
MLS ®
26831629
Year Built
Total Square Footage
5,334
Lot/Acreage
0.21
County
Los Angeles
Area
PAC - Pacoima
Interior Details
- Bedrooms: 1
- Bathrooms: 2 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating: Wall Furnace
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 14
- Roof:
- Others: 2+ Total Units
- Sewer:
- Parking Features: Gated,Uncovered
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: UNAVAILABLE
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Years
% Down Payment
% Mortgage Rate
Questions About..
12600 Correnti St Pacoima, CA 91331
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