12602 Correnti Street Pacoima, CA $ 3,300,000
12602 Correnti Street
$ 3,300,000
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12602 Correnti Street

Pacoima, CA, 91331
$ 3,300,000
Baths0.0

Monthly Estimate*

$ 20,319

Listed by Houze Real Estate Management
12602 Correnti Street, Pacoima, CA 91331 - Image 1
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Studio

Lots and Land for sale in Pacoima, CA

for $3,300,000. The lot size is 0.2066.

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.

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Lots and Land Active

Price

$ 3,300,000

Bedrooms

Studio

Property Type

Lots and Land

Taxes

$ 0

Style

Lot Size

0.2066

Town/City

Pacoima

County/Region

Los Angeles

MLS | Web ID

26832921

Days on Market

15

Features
General
Zoning [Q]C2-1VL-CUGU
View None
County Los Angeles
New Construction false
Property Type Land
HOA false
Full Baths 0
Special Listing Conditions Standard
Status Active
Directions Subject property is located on the intersection of Correnti and San Fernando Road north of Osborne Street and east of Laurel Canyon Boulevard.
City Pacoima
Senior Community Y/N false
MLS Area PAC - Pacoima
Lot Size Units SquareFeet
Lot Size Square Feet 9001
Standard Status Active
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Interior
Half Baths 0
1/4 Baths 0
3/4 Baths 0
Total Baths 0
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Exterior
Total Parking 0
Lot Size Area 9001
Lot Size Acres 0.2066
Lot Size Source Assessor
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* Excluded Features
List By
Houze Real Estate Management

Broker

Kelly@KellyMorganCommercial.com

Email

Affordability Calculator

$20,319
Per Month
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Monthly Principal & Interest
$20,319
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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4827338 Elementary School
4827337 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/12/2026$3,300,000 Listed Price

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12602 Correnti Street, Pacoima, CA, 91331 is a Lots and Land for sale at $3,300,000 with a lot size of 0.2066. 12602 Correnti Street is a studio with 0.0 baths. The property's zip code is 91331 which is in Pacoima, CA