8819 Reading Avenue
Los Angeles, CA 90045
Active for $2,975,000
Beds: N/A Baths: N/A Structure Size: N/A sqft Lot Size: 7,008 sqft
| MLS | PV24235528 |
| Year Built | 1951 |
| Property Type | Apartment |
| County | Los Angeles |
| Status | Active |
| Active | $2,975,000 |
| Structure Size | N/A sqft |
| Lot Size | 7,008 sqft |
| Beds | N/A |
| Baths | N/A |
Description
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.
Listing information courtesy of: Frank Ponce, Coldwell Banker Realty 310-791-6017. *Based on information from the Association of REALTORS/Multiple Listing as of 11/22/2024 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.
Location
Contact a Local Realtor®
Beth Mulugeta
REALTOR®
Direct: 818.726.5678
Email: Email Me
DRE: 02150959
DRE #01873088
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