There are multiple listings for this address:
SELLER IS MOTIVATED – SUBMIT ANY & ALL OFFERS – 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 $2,599,000, the property currently generates $16,356 per month ($196,272 annually) with three vacancies, presenting a rare opportunity for immediate income growth. With a 22% rental upside, the property has the potential to produce $19,900 per month ($238,800 annually) at market rents, achieving a cap rate of 6.31% and a GRM of 10.88. Currently, it operates at a 4.88% cap rate and a GRM of 13.24. The property includes four 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.
Property Details
Price:
$2,499,000
MLS #:
25486855
Status:
Active
Baths:
0
Address:
8819 Reading Avenue
Type:
Residential Income
Subtype:
Condominium
Neighborhood:
c29westchester
City:
Los Angeles
Listed Date:
Jan 21, 2024
State:
CA
ZIP:
90045
Lot Size:
7,006 sqft / 0.16 acres (approx)
Year Built:
1951
See this Listing
Mortgage Calculator
Schools
Interior
Cooling
None
Exterior
Parking Features
Driveway, Covered
Parking Spots
4.00
Stories Total
2
Financial
Map
Community
- Address8819 Reading Avenue Los Angeles CA
- AreaC29 – Westchester
- CityLos Angeles
- CountyLos Angeles
- Zip Code90045
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8819 Reading Avenue
Los Angeles, CA
SELLER IS MOTIVATED – SUBMIT ANY & ALL OFFERS – 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 $2,599,000, the property currently generates $16,356 per month ($196,272 annually) with three vacancies, presenting a rare opportunity for immediate income growth. With a 22% rental upside, the property has the potential to produce $19,900 per month ($238,800 annually) at market rents, achieving a cap rate of 6.31% and a GRM of 10.88. Currently, it operates at a 4.88% cap rate and a GRM of 13.24. The property includes four 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.
Property Details
Price:
$2,465
MLS #:
25498921
Status:
Active
Beds:
1
Baths:
1
Address:
8819 Reading Avenue
Type:
Rental
Subtype:
Condominium
Neighborhood:
c29westchester
City:
Los Angeles
Listed Date:
Feb 15, 2025
State:
CA
Finished Sq Ft:
600
ZIP:
90045
Lot Size:
7,008 sqft / 0.16 acres (approx)
Year Built:
1951
See this Listing
Mortgage Calculator
Schools
Interior
Cooling
None
Exterior
Parking Features
Driveway, Covered
Parking Spots
4.00
Stories Total
2
Financial
Map
Community
- Address8819 Reading Avenue Los Angeles CA
- AreaC29 – Westchester
- CityLos Angeles
- CountyLos Angeles
- Zip Code90045
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