809 Flora DR Active Save Request In-Person Tour Request Virtual Tour
Inglewood,CA 90302
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRRS24247822
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
Special Listing Condition Not Applicable