809 Flora Drive

Inglewood, CA 90302

$2,195,000

List Price

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bed Beds

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straighten / sqft

1954

calendar_month Built

Property 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.

Listing Information

List Price $2,195,000
Status Active
MLS RS24247822
Type Residential Income
Subtype Mixed Use
Year Built 1954
Lot Size 11,513
Structure Size N/A
Courtesy Of eXp Realty of Greater L.A
Listing Agent Andrew McAllister DRE#01946829

Interior Features

Laundry Information
Location(s) Common Area
Total Bedroom
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Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Andrew McAllister, eXp Realty of Greater L.A 562-528-8105. *Based on information from the Association of REALTORS/Multiple Listing as of Dec 11th, 2024 at 11:36 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.