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14 Renovated Units + Plans for 20 More Units 10028 San Fernando Rd 14 Unit Apartment Building $4,531,775 CAD ($323,698 CAD/Unit) 7.75% Cap Rate Pacoima, CA 91331
Investment Highlights
- 14 renovated units with a current Cap Rate of 7.75% provides immediate cash flow
- Potential to add 20 new units, increasing Cap Rate to an unheard of 14.9%
- Plans for an additional 8 detached ADUs in the back and 5 attached ADUs + 7 new units in front.
- Assumable 2.6M loan at only 3.9% interest rate yielding a remarkable 12.8% cash-on-cash return
- After construction costs, each unit will only cost an average of $148k, providing value for money
Executive Summary
Huge 900k Price Reduction! 14 existing Renovated units + plans for 20 new units cash flowing at an amazing Current Cap Rate of 7.75% from day 1. Attractive 2.6M assumable loan (Need only ~20% Down) at an incredibly low rate of 3.9% fixed through 09/01/2027 yielding a remarkable 14.9% cash-on-cash return. Preliminary plans to add 20 new units to achieve an unheard of 14.6% Cap Rate, 5.5 GRM, and only 148k/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.
Property Facts
| Price | $4,531,775 CAD | Building Class | C |
| Price Per Unit | $323,698 CAD | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 5,334 SF |
| Cap Rate | 7.75% | Average Occupancy | 86% |
| Gross Rent Multiplier | 9.73 | No. Stories | 2 |
| No. Units | 14 | Year Built/Renovated | 1950/2021 |
| Property Type | Multifamily | Parking Ratio | 2.62/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | [Q]C2-1VL-CUGU - Commercial | ||
| Price | $4,531,775 CAD |
| Price Per Unit | $323,698 CAD |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| Gross Rent Multiplier | 9.73 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 5,334 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2021 |
| Parking Ratio | 2.62/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | [Q]C2-1VL-CUGU - Commercial |
Amenities
Unit Amenities
- Refrigerator
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 13 | - | - |
1 1
Property Taxes
| Parcel Number | 2537-012-024 | Improvements Assessment | $747,394 CAD |
| Land Assessment | $1,150,989 CAD | Total Assessment | $1,898,383 CAD |
Property Taxes
Parcel Number
2537-012-024
Land Assessment
$1,150,989 CAD
Improvements Assessment
$747,394 CAD
Total Assessment
$1,898,383 CAD
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14 Renovated Units + Plans for 20 More Units | 10028 San Fernando Rd
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