1156 W Florence AVE, Los Angeles, CA 90044
1156 W Florence AVE, Los Angeles, CA 90044
1156 W Florence AVE, Los Angeles, CA 90044
1156 W Florence AVE, Los Angeles, CA 90044
1156 W Florence AVE, Los Angeles, CA 90044
1156 W Florence AVE, Los Angeles, CA 90044
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Ruby Raymond

Ruby Raymond

+1(805) 201-6341
$ 6,250,000
Est. payment | /mo

18 Beds

23 Baths

9,571 SqFt

Save
$ 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

REVIEWS

Ximena Ames Nugent

Professional & Paid Attention to My Needs

I am very impressed with the professionalism of this team! They worked very hard with terrific attention to details and respect for my needs. I would highly recommend Ruby and Patrick as they are knowledgeable, and dedicated to their clients.

Jeff M

Purchase

Ruby and the Raymond Team were great. We're in our new home right now writing this. Ruby helped make this happen and if you are looking for a home in the 5 Cities area I suggest you give Ruby a call. Thanks Ruby, SM

RonSteinback

The broker that everyone hopes to hire!

Patrick listed and sold two properties for me this year, and I intend to use him on a third transaction. Patrick is responsive and knows the local area. I am a broker myself, but located in southern California. Patrick is the broker that everyone hopes to hire!

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How Does The Raymond Team Deliver Exceptional Real Estate Service?

Expert Guidance

We educate you on the market and guide you to the best best decision about your move.

Proven Systems

Over 23 years of real estate experience  has helped us perfect our results-driven buying and selling systems.

Results Driven

We listen, we communicate, and we track every step of the process to ensure a seamleass transaction.

Ruby Raymond
Ruby Raymond

Broker Associate | License ID: 01342959

+1(805) 201-6341 | homes@raymondteamre.com

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By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from or on behalf of Ruby Raymond, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.