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$2,195,000

Beds
Unknown
sq ft
Unknown

809 Flora Dr, Inglewood, CA 90302

809 Flora Dr

Inglewood, CA 90302

  • 12 days on market
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.

Details

Property type

Mixed Use

Lot size

0.2643 acres

Price per sq ft

Unknown

Year built

1954

Price History

12/11/2024
CRMLS

CRMLS #RS24247822

Listed
$2,195,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Street Lights, Sidewalks

Status: Active

Tomo last checked: 12/22/2024 at 10:25 PM

Listing updated: 12/11/2024 at 3:39 PM

Listed by: Andrew McAllister, eXp Realty of Greater L.A Phone #: (888) 652-1314

MLS: CRMLS #RS24247822

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