CA > Los Angeles
Los Angeles, CA 90045,8819 Reading Ave
Los Angeles, CA 90045,8819 Reading Ave
Los Angeles, CA 90045,8819 Reading Ave
24
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$2,499,000
Est. payment /mo
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10 BD
7 BA
4,616 SqFt
Price Dropped by $100K

8819 Reading Ave Los Angeles, CA 90045

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Dallas Baker

Dallas Baker

+1(424) 243-7444

UPDATED:

02/13/2025 07:28 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,616 sqft

Price per Sqft $541

MLS Listing ID 25-486855

Bedrooms 10

Year Built 1951

Lot Size 7,006 Sqft

Acres 0.1609

Property Sub-Type Multi-Family

Property Description

SELLER IS MOTIVATED - SUBMIT ANY & ALL OFFERS - Located at 8819 Reading Avenue in the highly desirable Westchester neighborhood, this multifamily property offers a prime investment opportunity with significant upside potential. 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. Listed at $2,599,000, the property currently generates $16,356 per month ($196,272 annually) with three vacancies, presenting a rare opportunity for immediate income growth. With a 22% rental upside, the property has the potential to produce $19,900 per month ($238,800 annually) at market rents, achieving a cap rate of 6.31% and a GRM of 10.88. Currently, it operates at a 4.88% cap rate and a GRM of 13.24. The property includes four dedicated parking spaces and ample street parking, ensuring convenience for tenants in an area where parking is a premium. Each unit features in-unit laundry, and the property is well-maintained, with several units in excellent condition and the newly built ADU adding value. 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, 8819 Reading Avenue is a compelling investment in the thriving Westchester market.

Location

State CA

County Los Angeles

Area Westchester

Zoning LAR3

Rooms

Other Rooms None

Interior

Heating Wall Gas

Cooling None

Equipment Stackable W/D Hookup

Laundry In Unit

Exterior

Parking Features Driveway, Covered Parking

Garage Spaces 4.0

Building

Story 2

Level or Stories Multi/Split

Others

Special Listing Condition Standard

TheMLS (CLAW)
The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2025 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Lyon Stahl Investment Real Estate, Inc.

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Dallas Baker

+1(424) 243-7444

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8819 Reading Ave