8819 Reading AVE Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90045
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,616 sqft
Price per Sqft $482
MLS Listing ID 25527413
Bedrooms 10
Year Built 1951
Lot Size 7,008 Sqft
Property Description
SELLER IS MOTIVATED - MAJOR PRICE REDUCTION - 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 $2,225,000, the property currently generates $16,026 per month ($192,312 annually) with one vacancy, presenting a rare opportunity for immediate income growth. With a 23% rental upside, the property has the potential to produce $19,760 per month ($237,120 annually) at market rents, achieving a cap rate of 7.82% and a GRM of 9.38. Currently, it operates at a 5.87% cap rate and a GRM of 11.57. The property includes three 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. *** Please click property website link for floor plans.
Location
State CA
County Los Angeles
Area C29 - Westchester
Zoning LAR3
Interior
Heating Wall Furnace
Exterior
Parking Features Carport
Building
Story 2
New Construction No
Others
Special Listing Condition Standard