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

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