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 2.5M assumable loan (requiring only ~17% down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 15.7% cash-on-cash return. Preliminary plans to add 20 new market-rate units to achieve an unheard of 14.3% Cap Rate, 5.6 GRM, and only 141k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The project is anticipated to deliver over $2.7MM in net profit after all construction and resale costs, yielding an exceptional 125.9% 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.
Welcome to this beautifully updated property offering comfort, versatility, and exceptional income potential. The main residence features 3 spacious bedrooms and 2 remodeled bathrooms with an open-concept floor plan filled with natural light. The upgraded kitchen boasts modern finishes, ample cabinetry, and flows seamlessly into the living area, making it ideal for everyday living and entertaining. This unique property also includes TWO PERMITTED ADUs. The first is a detached 1-bedroom, 1-bath ADU complete with a full kitchen, perfect for extended family, guests, or rental income. The second is a brand-new attached permitted 1-bedroom, 1-bath ADU, thoughtfully designed with modern finishes, a full kitchen, and a private entrance, offering additional flexibility and excellent investment potential. Additional upgrades include dual-pane windows, central heating and air conditioning, updated electrical, copper plumbing, and an in-unit laundry area. The gated lot provides privacy and ample parking for multiple vehicles. Conveniently located near schools, parks, shopping, dining, and major freeways, this turnkey property is ideal for homeowners and investors alike. Buyer to assume the existing solar panel lease, subject to qualification.
Pacoima is located in California.
