Los Angeles, CA 90045 8819 Reading Avenue
$2,995,000
Presented By: Anthony Rollins with Keller Williams Beverly Hills;
Beds • 10
Baths • 7
SQFT • 4,616
Home Details
Conveniently located minutes to Sofi, LAX, Silicon Beach, West LA, and the South Bay, this 6-unit building with an almost completed, BRAND NEW 2bd/1ba permitted ADU, is generating $191,092 in gross income w/ 19% upside in rents. In addition to 3 units having been recently remodeled, the list of building upgrades includes dual pane windows, copper plumbing, a new roof, foundation work, exterior painting, and landscaping. There is also a Tier 3 TOC Density Bonus for future development potential of the 7,008 sq ft R3 lot. This property is a great opportunity and long-term play, for a buyer looking to be in a stable rental area with proximity and access to some of the best attractions of the Westside and South Bay. Seller to do a 1031 exchange at no cost to buyer.
Presented By: Anthony Rollins with Keller Williams Beverly Hills;
Interior Features for 8819 Reading Avenue
Bedrooms
Total Bedrooms10
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths7
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NYes
Total Stories2
Window FeaturesDoublePaneWindows
General for 8819 Reading Avenue
Additional Parcels Y/NNo
AppliancesMicrowave, Refrigerator, Dryer, Washer
Attached Garage No
Buyer FinancingCash
Cap Rate4.3
Carport Y/NNo
CityLos Angeles
Construction MaterialsStucco
CountyLos Angeles
Days on Market
DirectionsFrom 405, exit on to Manchester, head west, turn left onto Ramsgate Ave to Reading Ave, turn left.
Electric On Property Y/NNo
Entry LocationGround Level w/steps
Expected Active Date 2024-10-03
Full Baths
Garage Y/NNo
Gross Income191092.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Interior FeaturesCeilingFans
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet7008.0
Lot Size UnitsSquareFeet
MLS AreaC29 - Westchester
MobileHomeRemainsYNNo
Net Operating Income128806.0
New ConstructionNo
NumberOfUnitsTotal6
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property ConditionUpdatedRemodeled
Property TypeResidentialIncome
Rent Control Y/NYes
RoofComposition
Senior Community Y/NNo
SewerOther
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
ViewNone
View Y/NNo
Waterfront Y/NNo
Year Built1951
ZoningLAR3
Exterior for 8819 Reading Avenue
Building Area Total4616.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1609
Lot Size Area7008.0
Lot Size SourceAssessor
Number of Buildings2
Open Parking Y/NNo
Parking FeaturesOneSpace, Uncovered
SpaNo
Total Parking4.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480