Property Details
About this Property
Rare chance to acquire a meticulously maintained 9-unit complex, offered for the first time in nearly 30 years. Located just blocks from Ladera Heights and steps from Amazon Fresh, Chipotle, and Starbucks, this pride-of-ownership property presents significant upside potential. Amenities include an on-site laundry facility, nine parking spaces, and a common-area pool. Eight of the nine units have been renovated between 2009 and 2021, yet current rents remain approximately 36% below market despite increases in September 2024. Recent Upgrades (2013–2022): - Pool and deck resurfacing, drainage to code - Roof replacement (2014/2019) - New handrails, entry gate, and LED carport lighting - Walkway resurfacing, concrete leveling, and exterior paint - SB721 compliant: owner has completed the required inspections of balconies, decks, and elevated walk ways. Additional Value-Add Potential: Under CA State Bill SB1211, the property qualifies for the addition of (4) 450 sq. ft. 1BD/1BA ADUs, boosting cash-on-cash returns to 8.69% at pro forma rents. Beginning January 2025, rental increase limits will align with California’s 5% + CPI cap, providing a pathway to market rents faster.
MLS Listing Information
MLS #
CRRS24247822
MLS Source
California Regional MLS
Days on Site
9
Interior Features
Cooling
None
Heating
Wall Furnace
Exterior Features
Roof
Flat
Parking, School, and Other Information
Garage/Parking
Covered Parking, Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 9 | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
809 Flora Dr is a Residential Income in Inglewood, CA 90302. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,195,000 and was built in 1954. This address can also be written as 809 Flora Dr, Inglewood, CA 90302.
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This listing information is up-to-date as of December 11, 2024. For the most current information, please contact Andrew McAllister, (562) 528-8105
