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$ 2,799,000
Est. payment /mo
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8819 Reading AVE Los Angeles, CA 90045
7,008 Sqft Lot
UPDATED:
12/13/2024 03:39 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPV24235528
Originating Board California Regional MLS
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
Rooms
Kitchen Microwave, Refrigerator
Interior
Heating Wall Furnace
Cooling None
Laundry Washer, Dryer
Exterior
Parking Features Assigned Spaces
Garage Spaces 4.0
Pool None
Building
Water District - Public
Others
Tax ID 4125014002
Special Listing Condition Not Applicable
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Listed by Frank Ponce • Coldwell Banker Realty