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$3,700,000
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9,005 Sqft Lot
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25568133
Lot Size 9,005 Sqft
Acres 0.2067
Property Description
Huge 500k Price Reduction! 14 existing Renovated units + plans for 20 new units cash flowing at an amazing current Cap Rate of 7% from day 1. Attractive 2.6M assumable loan at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 10% cash-on-cash return. Preliminary plans to add 20 new units to achieve an unheard of 12.7% Cap Rate, 6.2 GRM, and only 159k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The plans call for 8 detached ADUs in the back + 5 attached ADUs in the front + 7 new units 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.
Location
State CA
County Los Angeles
Area Pacoima
Zoning LAC2
Exterior
View Y/N No
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Others
Special Listing Condition Standard
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Listed by Global Platinum Properties, Inc.
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