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Listed by 925-683-9203 - Andrew McAllister - DRE #01946829 - eXp Realty of Greater L.A 888-652-1314

$2,195,000

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809 Flora Drive Inglewood, CA 90302

Mixed Use Residence

Beds

Baths

7,199 Sq. Ft.

0.26 Acre Lot

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Last updated on 1/7/2025 3:16 AM

Listing Details

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 a...n 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. Continue reading

MLS#

RS24247822

Property Type

Mixed Use

Status

Year Built

1954

Square Feet

7,199 sq. ft

Lot Size

0.26

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