CA > Los Angeles
Los Angeles, CA 90045,8819 Reading AVE
Los Angeles, CA 90045,8819 Reading AVE
Los Angeles, CA 90045,8819 Reading AVE
Los Angeles, CA 90045,8819 Reading AVE
Los Angeles, CA 90045,8819 Reading AVE
Los Angeles, CA 90045,8819 Reading AVE
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Carlos Tovar

Carlos Tovar

+1(951) 264-7544
$ 2,195,000
Est. payment | /mo

10 Beds

7 Baths

4,616 SqFt

Save
$ 2,195,000
Est. payment | /mo
Save

10 Beds

7 Baths

4,616 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,616 sqft

Price per Sqft $475

MLS Listing ID 25527413

Bedrooms 10

HOA Y/N No

Year Built 1951

Lot Size 7,008 Sqft

Property Description

LIST PRICE IS $400,000 LESS THAN RECENTLY APPRAISED VALUE - SELLER IS MOTIVATED - MAJOR PRICE REDUCTION - Located at 8819 Reading Avenue in the highly desirable Westchester neighborhood, this multifamily property offers a prime investment opportunity with significant upside potential. The property features a total of 7 units, including a newly constructed 2-bedroom/1-bathroom ADU completed in 2024, enhancing its modern appeal. The remaining unit mix includes 4 one-bedroom/one-bathroom units and 2 two-bedroom/one-bathroom units, with a total rentable square footage of 4,616 on a 7,006-square-foot lot. Listed at $2,195,000, the property currently generates $16,026 per month ($192,312 annually) with one vacancy, presenting a rare opportunity for immediate income growth. With a 23% rental upside, the property has the potential to produce $19,760 per month ($237,120 annually) at market rents, achieving a cap rate of 7.94% and a GRM of 9.26. Currently, it operates at a 6.11% cap rate and a GRM of 11.41. The property includes three dedicated parking spaces and ample street parking, ensuring convenience for tenants in an area where parking is a premium. Each unit features in-unit laundry, and the property is well-maintained, with several units in excellent condition and the newly built ADU adding value. Its location near LAX, Playa Vista, Silicon Beach, and the 405 freeway ensures strong demand from tenants seeking convenience and proximity to major employment and lifestyle hubs. With its combination of current cash flow, three immediate lease-up opportunities, and substantial rental upside in a high-demand area, 8819 Reading Avenue is a compelling investment in the thriving Westchester market. *** Please click property website link for floor plans.

Location

State CA

County Los Angeles

Area C29 - Westchester

Zoning LAR3

Interior

Heating Wall Furnace

Fireplace No

Appliance Dishwasher, Disposal, Microwave, Refrigerator, Dryer

Exterior

Parking Features Carport

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4125014002

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(951) 264-7544

carlos@tovarrealestate.com

11010 Arrow Route STE 109, Ranco Cucamongo, California, 91730, USA

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8819 Reading AVE