CA > Pacoima
Pacoima, CA 91331,10028 San Fernando RD #34
Pacoima, CA 91331,10028 San Fernando RD #34
Pacoima, CA 91331,10028 San Fernando RD #34
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$4,195,000
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9,003 Sqft Lot
Active

10028 San Fernando RD #34 Pacoima, CA 91331

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Joel Cloud

Joel Cloud

+1(619) 247-6381

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Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 25526151

HOA Y/N No

Lot Size 9,003 Sqft

Property Description

Development opportunity in a qualified "Opportunity Zone". 14 Renovated units cash flowing at an amazing current Cap Rate of 6% from day 1. Attractive 2.6M assumable loan at an incredibly low rate of 3.9% fixed through 09/01/2027. Preliminary plans to add 20 new market-rate units by right (No low-income units) to achieve an unheard 11.5% Cap Rate, 6.8 GRM, and only 173k/unit after taking into account all the construction costs (~1.7M assuming $250/SF). The preliminary 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

Fireplace No

Exterior

View Y/N No

View None

Building

New Construction No

Others

Senior Community No

Tax ID 2537012024

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Armin Soleimani • Global Platinum Properties, Inc.

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agent

Joel Cloud

Broker Associate | License ID: 01173649

+1(619) 247-6381

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10028 San Fernando RD #34

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