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About the Listing X71068 - 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 2.48M 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.
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
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Exterior Details
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- Zoning: [Q]C2-1VL-CUGU
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Financial Details
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12602 Correnti St Pacoima, CA 91331
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