Active
8819 Reading AVE
LOS ANGELES CA, 90045
$2,799,000
$606.37 per sqft
Active
5 Beds
3 Baths
4,616 sqft
Multi-family
Built in 1951
Prime Location Alert. Just minutes from Sofi Stadium, LAX, Silicon Beach, West LA, and the South Bay, this exceptional 7-unit building offers an unbeatable investment opportunity. Featuring a nearly finished, brand-new 2bd/1ba permitted ADU, this property is already generating a substantial $191,088 in gross income with a 20.13% upside potential in rents. There were over $400,000 in upgrades. The building boasts 4 newly remodeled units and recent upgrades, including dual-pane windows, copper plumbing, new foundation work, fresh exterior paint, and updated landscaping. Plus, with a Tier 3 Transit Oriented Communities Density Bonus (TOC), the 7,008 sq ft R3 lot offers exciting future development potential. This property is ideal for investors looking for a stable rental market and unparalleled access to premier Westside and South Bay attractions. The seller is willing to do a 1031 exchange at no cost to the buyer, making this deal even more attractive. Don t miss out on this incredible long-term investment opportunity! Contact us for the offering memorandum.
PV24235528MR
MLSⓇ ID
November 17, 2024
Listed
December 13, 2024
Updated
Map
8819 Reading AVE
LOS ANGELES CA, 90045
Interior Features
Total Stories
2
Bedrooms
5
Total Bathrooms
3
Appliances
Dryer, Dryer Included, Microwave, Refrigerator, Washer, Washer Included
Laundry Description
Dryer, Dryer Included, Washer, Washer Included
Fireplace
No
Fireplace Description
None
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Wall
Exterior/Building Features
Lot Size
0.16 Acres
Sewer
Public Sewer
Other Property Details
Area Name
Westchester
Days on Market
25
Garage
Yes
Garage Spaces
4
Parking
Assigned
Parking Total
4
View
No
County
Los Angeles
Water Source
Public
Pool
No
Pool Features
None
Zoning
LAR3
Listing History
Date | Event | Price |
---|---|---|
12/13/2024 | Price change | $2,799,000 -1% |
12/5/2024 | Price change | $2,824,000 -1% |
11/25/2024 | Price change | $2,849,000 -5% |
11/17/2024 | Active | — |
Listed by Frank Ponce with Coldwell Banker Realty
Listing Contact: 310-791-6017
Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor Lorissa Singleton shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
©2024 Combined L.A./Westside MLS. All rights reserved.
Data last updated 12/13/2024