8819 Reading Avenue

Description

Conveniently located minutes to Sofi, LAX, Silicon Beach, West LA, and the South Bay, this 7-unit building with an almost completed, BRAND NEW 2bd/1ba permitted ADU, is generating $191,092 in gross income w/ 19% upside in rents. In addition to 3 recently remodeled units, the list of building upgrades includes dual pane windows, copper plumbing, a new roof, foundation work, exterior painting, and landscaping. There is also a Tier 3 TOC Density Bonus for future development potential of the 7,008 sq ft R3 lot. This property is a great opportunity and long-term play for a buyer looking to be in a stable rental area with proximity and access to some of the best Westside and South Bay attractions. Seller to do a 1031 exchange at no cost to buyer.

Listing information courtesy of: Anthony Rollins, Keller Williams Beverly Hills . *Based on information from the Association of REALTORS/Multiple Listing as of 10/12/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.