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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 6,250,000

Est. payment | -/mo

18 Beds

23 Baths

9,571 SqFt

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$ 6,250,000

Est. payment | -/mo

Save

18 Beds

23 Baths

9,571 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,571 sqft

Price per Sqft $653

MLS Listing ID 26871793

Bedrooms 18

HOA Y/N No

Year Built 2026

Lot Size 5,989 Sqft

Property Description

**IMMEDIATE CASH FLOW AT DAY ONE** **100% MASTER LEASED** NEWLY CONSTRUCTED 15 UNIT APARTMENT BUILDING. eLAvate, Inc. is pleased to present 1156 W. Florence Ave. A newly constructed 15 unit apartment community with a dedicated on site office, 100% MASTER-LEASED to a single corporate tenant encompassing all 15 units. This is not a lease up. This is IMMEDIATE CASH FLOW AT DAY ONE with none of the leasing risk, turnover cost or vacancy drag of traditional multifamily ownership. 13 of the 15 units are restricted via a recorded rental covenant. 2 units (both three bedrooms) are at market rate/unrestricted. New construction delivered in March 2026. Three stories, 9,571 SF living space, 6,000 SF lot. 15 residential units + 1 on site office (lobby level, with private restroom & HVAC). Unit Mix: 7 Studios | 6 Two Bedroom/Two Bath with washer & dryer | 2 Three Bedroom/Two Bath with washer & dryer. All electric property. Every unit equipped with stainless steel refrigerator, microwave, dishwasher, and electric range/stove. All 2BR and 3BR units include in unit full size washer and dryers. Common area laundry room serving the 7 ground floor studio units, equipment provided under separate agreement at no cost to ownership. Owner provides internet & TV streaming to all units and the on site office via a Spectrum bulk internet agreement at no cost to the master tenant. **POTENTIAL WELFARE TAX EXEMPTION* As an affordable/ED-1 project, a buyer who acquires and holds the Property through a qualifying nonprofit may substantially reduce the property taxes and meaningfully improve net cash flow versus standard taxation This is a buyer side structuring decision, not a feature of the current ownership or lease. This is not a guarantee of exemption and buyers should consult their own tax and legal advisors. Refer to the offering memorandum - "Welfare Exemption Scenario" illustration.

Location

State CA

County Los Angeles

Area C36 - Metropolitan Southwest

Zoning LAC2

Interior

Heating Central

Cooling Central Air

Flooring Tile

Fireplace No

Appliance Dishwasher, Electric Cooktop, Electric Oven, Disposal, Microwave, Refrigerator, Dryer, Washer

Laundry Common Area

Exterior

Parking Features None

Pool None

Private Pool No

Building

Story 3

Entry Level Multi/Split

Level or Stories Multi/Split

New Construction No

Others

Senior Community No

Tax ID 6019011002

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Josh Hodeda eLAvate,Inc. #02091542

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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1156 W Florence AVE Los Angeles, CA 90044