- $3.1M Price
- .21 Acres
- 38 DOM
12602 Correnti Street
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 2.48M 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 146.52% 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.
Essential Information
- MLS® #26866533
- Price$3,075,000
- Bathrooms0.00
- Acres0.21
- TypeLand
- StatusActive
Community Information
- Address12602 Correnti Street
- AreaPAC - Pacoima
- CityPacoima
- CountyLos Angeles
- Zip Code91331
Amenities
- ViewNone
Additional Information
- Date ListedJuly 30th, 2026
- Days on Market38
- Zoning[Q]C2-1VL-CUGU
Listing Details
- AgentKelly Morgan
- OfficeHouze Real Estate Management
Price Change History for 12602 Correnti Street, Pacoima, (MLS® #26866533)
| Date | Details | Change |
|---|---|---|
| Price Reduced from $3,150,000 to $3,075,000 |
Kelly Morgan, Houze Real Estate Management.
Based on information from California Regional Multiple Listing Service, Inc. as of September 7th, 2026 at 7:56pm PDT. 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.