Listing provided courtesy of Frank Ponce of Coldwell Banker Realty. Last updated 2024-11-27 09:11:20.000000. Listing information © 2024 Sandicor.
Asking Price: $2,849,000
8819 Reading, Los Angeles CA 90045
Community: C29 - Westchester
This Apartment property was built in 1951 and is priced at $2,849,000. Please see the additional details below.
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.
