10028 San Fernando Rd - Apartments FOR SALE


Pacoima, CA 91331
$4,195,000 USD
310-666-2246
10028 San Fernando Rd, Pacoima, CA for Sale
$4,195,000 USD
Apartments - FOR SALE
1/19
null | 6.05% Cap Rate

10028 San Fernando Rd
Pacoima, CA 91331


HIGHLIGHTS

  • 14 renovated units with a current Cap Rate of 6% provides immediate cash flow
  • Attractive assumable loan with low fixed interest rate of 3.9%through 09/01/2027
  • Potential to add 20 new units, increasing Cap Rate to an unheard of 11.5%
  • Preliminary plans in place for expansion, making it easy for investors to see potential ROI
  • After construction costs, each unit will only cost an average of $173k, providing value for money
  • Preliminary plans for an additional 8 detached ADUs in the back and 5 attached ADUs + 7 new units in front.

OVERVIEW

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 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.

FOR SALE DETAILS

PRICE

$4,195,000 USD

PRICE/SF

$846 USD /SF

# OF UNITS

14

PRICE/UNIT

$299,643

CAP RATE

6.05%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

14 Renovated Units + Plans for 20 ADU's

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,004 SF

ZONING

LAC2

APN/PARCEL ID

2537-012-024

ASK ABOUT THIS PROPERTY

Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

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Armin SoleimaniGlobal Platinum PropertiesMore Info
310-666-2246

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.