11
See all 11 photos
$2,150,000
Est. payment /mo
0.26 Acres Lot
Price Dropped by $45K
809 Flora DR Inglewood, CA 90302
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UPDATED:
01/14/2025 02:21 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRRS24247822
Originating Board California Regional MLS
Year Built 1954
Lot Size 0.264 Acres
Property Description
*Price Reduction Motivated Seller *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 35% 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 8.44% 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.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Interior
Heating Wall Furnace
Cooling None
Laundry Laundry Area, Washer/Dryer - Owned
Exterior
Parking Features Covered Parking
Garage Spaces 9.0
Pool Pool - In Ground, 31, Pool - Yes
Roof Type Flat / Low Pitch
Building
Water District - Public
Others
Tax ID 4017020013
Special Listing Condition Not Applicable
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Listed by Andrew McAllister • eXp Realty of Greater L.A