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About the Listing CLW-X71068 - CLW-C121229
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 2.5M assumable loan (requiring only ~17% down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 15.79% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 14.4% Cap Rate, 5.6 GRM, and only 141k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The project is anticipated to deliver over $2.79MM in net profit after all construction and resale costs, yielding an exceptional 125% 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
54
Property Type
Vacant Land
MLS ®
26832921
Year Built
Total Square Footage
0
Lot/Acreage
0.21
County
Los Angeles
Area
PAC - Pacoima
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
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- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: [Q]C2-1VL-CUGU
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: UNAVAILABLE
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
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Questions About..
12602 Correnti St Pacoima, CA 91331
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