809 Flora Drive, Inglewood, CA 90302
- $2,050,000
- Sold Price
- $2,050,000
- List Price
- $2,150,000
- Closing Date
- Apr 24, 2025
- Status
- CLOSED
- MLS#
- RS24247822
- Year Built
- 1954
- Lot Size
- 11,513
- Acres
- 0.26
- Days on Market
- 107
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
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.
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Additional Information
- Pool
- Yes
- Pool Description
- In Ground, Private
- Heat
- Wall Furnace
- Cooling Description
- None
- Roof
- Flat
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Detached
- Number Of Units Total
- 9
- Gross Scheduled Income
- $172,680
- Operating Expense
- 69649
Listing courtesy of Listing Agent: Andrew McAllister (drew@nrecommercial.com) from Listing Office: eXp Realty of Greater L.A.
Listing sold by Andrew McAllister from eXp Realty of Greater L.A
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.