12602 Correnti Street
Pacoima, CA 91331
9,001Sqft(Lot)
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 15.7% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 14.3% 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 $2.7MM in net profit after all construction and resale costs, yielding an exceptional 125.9% 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 2
Property Details
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Map
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Lot Information
Main Square Feet: 9001 Lot Size Acres: 0.2066 Lot Size Source: Assessor Lot Size Square Feet: 9,001
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Listing Price Information
Listing Price: $3150000
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Tax Information
Parcel Number: UNAVAILABLE
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Location Information
Direction: Subject property is located on the intersection of Correnti and San Fernando Road, north of Osborne Street and east of Laurel Canyon Boulevard.
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 12335 Osborne Place, Pacoima, CA, 91331 | $3,950,000 | -- | -- | -- | 46,035 Sqft(Lot) |
| 10397 San Fernando Road, Pacoima, CA, 91331 | $799,900 | -- | -- | -- | 5,977 Sqft(Lot) |
| 10550 Haddon Avenue, Pacoima, CA, 91331 | $749,000 | -- | -- | -- | 7,500 Sqft(Lot) |
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ByOwner last updated this listing 07/31/2026 @ 17:58
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