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**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.
Property Type(s):
Residential Income
| Last Updated | 8/12/2026 | Year Built | 2026 |
|---|---|---|---|
| Community | C36 - Metropolitan Southwest | County | Los Angeles |
Additional Details
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Dryer, Electric Cooktop, Electric Oven, Microwave, Refrigerator, Washer |
| AREA | C36 - Metropolitan Southwest |
| HEAT | Central |
| LOT | 5990 sq ft |
| LOT DIMENSIONS | 50x120 |
| PARKING | None |
| POOL DESCRIPTION | None |
| STORIES | Split/Multi Level |
Location
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Listed with eLAvate,Inc.
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2026.
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