8819 Reading Avenue Los Angeles, CA 90045
Listing Courtesy of: CRMLS / Coldwell Banker Realty / Frank Ponce - Contact:  310-503-4158

  8819 Reading Avenue Los Angeles, CA 90045

Active (24 Days)
$2,824,000

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.

MLS #:
PV24235528
Lot Size
7,008 SQFT
Type
Multifamily
Year Built
1951
County
Los Angeles County

Listed By

Frank Ponce, DRE #00861049 CA, Coldwell Banker Realty, Contact: 310-503-4158
Source
CRMLS
Last checked Dec 11 2024 at 11:58 AM GMT+0000
Bathroom Details
Interior Features
  • Washer
  • Refrigerator
  • Microwave
  • Dryer
  • Ceiling Fan(s)
  • All Bedrooms Down
Heating and Cooling
  • Wall Furnace
Flooring
  • Vinyl
Utility Information
  • Utilities: Water Source: Public, Water Connected, Sewer Connected, Phone Connected, Natural Gas Connected, Electricity Connected, Cable Connected
  • Sewer: Public Sewer
Parking
  • Assigned
Stories
  • 2
Additional Information: Palos Verdes Beach Cities | 310-503-4158
Location
   
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Listing Price History

Date
Event
Price
% Change
$ (+/-)
Dec 05, 2024
Price Changed
$2,824,000
-1%
-25,000
Nov 25, 2024
Price Changed
$2,849,000
-4%
-126,000
Nov 13, 2024
Original Price
$2,975,000
-
-
Disclaimer: Based on information from California Regional Multiple Listing Service, Inc. as of 2/22/23 10:28 and /or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable.