8819 Reading Avenue

Los Angeles, CA 90045

$2,975,000

List Price

N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten / sqft

1951

calendar_month Built

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.

Listing Information

List Price $2,975,000
Status Active
MLS PV24235528
HOA $0
Type Residential Income
Subtype Apartment
Year Built 1951
Lot Size 7,008
Structure Size N/A
DOM 5
Courtesy Of Coldwell Banker Realty
Listing Agent Frank Ponce DRE#00861049
Co-Listing Agent Viktorie Miksatkova DRE#02126640

Interior Features

Bedroom Information
Features All Bedrooms Down
Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Vinyl
Fireplace Information
Features None
Additional Information
Additional Features Ceiling Fan(s), All Bedrooms Down
Cooling Type
Cooling Type None

Exterior Information

Maps

Listing information courtesy of: Frank Ponce, Viktorie Miksatkova, Coldwell Banker Realty 310-791-6017. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 23rd, 2024 at 1:23 AM 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.