About 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.
Features of 12602 Correnti Street
| MLS® # | 26866533 |
|---|---|
| Price | $3,075,000 |
| Bathrooms | 0.00 |
| Acres | 0.21 |
| Type | Land |
| Status | Active |
Community Information
| Address | 12602 Correnti Street |
|---|---|
| Area | PAC - Pacoima |
| City | Pacoima |
| County | Los Angeles |
| Zip Code | 91331 |
Amenities
| View | None |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Has Basement | No |
|---|---|
| Fireplace | No |
Additional Information
| Date Listed | July 30th, 2026 |
|---|---|
| Days on Market | 45 |
| Zoning | [Q]C2-1VL-CUGU |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Kelly Morgan |
|---|---|
| Office | Houze Real Estate Management |