8819 Reading Avenue, Los Angeles, CA 90045 (MLS # 25527413)
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. Currently 3 vacancies for new buyer to take advantage of. 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. With 3 current vacanies this presents a rare opportunity for immediate income growth. With a 22% rental upside, the property has the potential to produce $19,460 per month ($236,820 annually) at market rents, achieving a cap rate of 7.54% and a GRM of 9.69. Currently, it operates at a 5.63% cap rate and a GRM of 11.97. The property includes four dedicated parking spaces and ample street parking, ensuring convenience for tenants in an area where parking is a premium. 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. *** Please click property website link for floor plans.
|
DAYS ON MARKET
|
1
|
LAST UPDATED
|
4/19/2025
|
|
YEAR BUILT
|
1951
|
COMMUNITY
|
Westchester
|
|
COUNTY
|
Los Angeles
|
STATUS
|
Active
|
|
PROPERTY TYPE(S)
|
Residential Income
|
|
|
| APPLIANCES |
Dishwasher, Disposal, Dryer, Microwave, Refrigerator |
| AREA |
Westchester |
| GARAGE |
Carport |
| HEAT |
Wall Furnace |
| LOT |
7008 sq ft |
| PARKING |
Carport |
| STORIES |
2 |
| ZONING |
LAR3 |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Ken
Shapiro to contact you even if your name is on a Federal or State
"Do not call List".
Listed with Lyon Stahl Investment Real Estate, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 4/19/25 8:39 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts
Twitter
Facebook
Email