8819 Reading AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90045
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID PV24235528
HOA Y/N No
Year Built 1951
Lot Size 7,008 Sqft
Property 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.
Location
State CA
County Los Angeles
Area C29 - Westchester
Zoning LAR3
Interior
Interior Features Ceiling Fan(s),All Bedrooms Down
Heating Wall Furnace
Cooling None
Flooring Vinyl
Fireplaces Type None
Inclusions None
Fireplace No
Appliance Microwave,Refrigerator,Dryer,Washer
Exterior
Parking Features Assigned
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Storm Drain(s),Street Lights,Sidewalks
Utilities Available Cable Connected,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected,Water Connected
Accessibility None
Total Parking Spaces 4
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4125014002
Acceptable Financing Cash,Cash to New Loan,Conventional,Contract,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,Contract,1031 Exchange
Special Listing Condition Standard