Legal Question in Real Estate Law in California

No, unless it's done under the exception in the Penal Code that allows bona fide charities that have been in operation at least one year to sell raffle tickets, conduct a raffle, and/or reap a profit from the raffle. No one else can do any of those things lawfully, irrespective of the prize.

With certain limited exceptions lotteries or raffles are prohibited in California Constitution Article 4 Section 19. With additional information contained in Penal Code section 320.5. Consulting with an attorney would be advisable as a violation of this section would be a misdemeanor.