809 Flora Drive
Inglewood, CA 90302
0.26 acres | #RS24247822
Description
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.
Property Details
- Utility FeaturesElectricityConnected, NaturalGasConnected, SewerConnected, WaterConnected
- Property TypeMulti-Family
- Sewer InformationPublicSewer
- CountyLos Angeles
- Original List Price$2,195,000
- MLS #RS24247822
- MLS #RS24247822
- Property SubtypeMixedUse
- Cost2195000
- Acres0.2643
- Utility SourcePublic
- Year Built1954
- Stories2
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Andrew McAllister (#RSMCALAND)
Listing Office: eXp Realty of Greater L.A (#REX5)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
