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Diego Magdaleno

diego@1visionproperties.com +1(714) 676-7271

$3,700,000

Est. payment - /mo

14 Beds

14 Baths

5,334 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 5,334 sqft

Price per Sqft $693

MLS Listing ID 25565657

Bedrooms 14

HOA Y/N No

Year Built 1950

Lot Size 9,003 Sqft

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 Pac - Pacoima

Zoning LAC2

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Appliance Microwave

Exterior

Parking Features Gated, Unassigned

Total Parking Spaces 14

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 2537012024

Special Listing Condition Standard

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Listed by Armin Soleimani Global Platinum Properties, Inc.

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10028 San Fernando RD Pacoima, CA 91331