809 Flora Dr

*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.