21
See all 21 photos
$2,295,000
Est. payment /mo
10 Beds
7 Baths
4,616 SqFt
New
8819 Reading AVE Los Angeles, CA 90045
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,616 sqft
Price per Sqft $497
MLS Listing ID 25527413
Bedrooms 10
HOA Y/N No
Year Built 1951
Lot Size 7,008 Sqft
Property Description
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. Currently 3 vacancies for new buyer to take advantage of. 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. With 3 current vacanies this presents a rare opportunity for immediate income growth. With a 22% rental upside, the property has the potential to produce $19,460 per month ($236,820 annually) at market rents, achieving a cap rate of 7.54% and a GRM of 9.69. Currently, it operates at a 5.63% cap rate and a GRM of 11.97. The property includes four dedicated parking spaces and ample street parking, ensuring convenience for tenants in an area where parking is a premium. 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. *** 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
Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.