10028 San Fernando, Pacoima, CA 91331
Bedrooms: 0
Bathrooms: 0
Area: 0 SqFt.
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.
CA DRE #01870580
6965 El Camino Real 105-690, Carlsbad CA 92009
877.692.8427
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