8819 Reading Avenue
Los Angeles, CA, 90045
$2,849,000
Beds
0 Baths
SqFt
0.16 Acres
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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.

Property Details

Price:
$2,849,000
MLS #:
PV24235528
Status:
Active
Baths:
0
Address:
8819 Reading Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
c29westchester
City:
Los Angeles
Listed Date:
Nov 13, 2024
State:
CA
ZIP:
90045
Lot Size:
7,008 sqft / 0.16 acres (approx)
Year Built:
1951
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Schools

Interior

Accessibility Features
None
Appliances
Microwave, Refrigerator
Cooling
None
Fireplace Features
None
Flooring
Vinyl
Heating
Wall Furnace
Interior Features
Ceiling Fan(s)

Exterior

Community Features
Sidewalks, Storm Drains, Street Lights
Electric
220 Volts
Garage Spaces
4.00
Lot Features
0-1 Unit/ Acre
Parking Features
Assigned
Parking Spots
4.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public

Financial

Association Fee
0.00
Tenant Pays
Electricity, Gas
Utilities
Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected

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Rover IDX
8819 Reading Avenue
Los Angeles, CA