809 Flora Drive, Inglewood, CA 90302 (MLS # RS24247822)
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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.
| DAYS ON MARKET | 12 | LAST UPDATED | 12/11/2024 |
|---|---|---|---|
| YEAR BUILT | 1954 | COMMUNITY | North Inglewood |
| COUNTY | Los Angeles | STATUS | Active |
| PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | None |
|---|---|
| AREA | North Inglewood |
| GARAGE | Covered |
| HEAT | Wall Furnace |
| LOT | 0.26 acre(s) |
| PARKING | Covered |
| POOL | Yes |
| POOL DESCRIPTION | In Ground,Private |
| SEWER | Public Sewer |
| STORIES | 2 |
| UTILITIES | Electricity Connected,Natural Gas Connected,Sewer Connected,Water Connected |
| WATER | Public |
| ZONING | INR3YY |
TOTAL MONTHLY PAYMENT
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