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8819 Reading Avenue

Los Angeles, CA 90045

– beds
– baths
– sqft
7,008 sqft lot
1951 build
– on site

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.

Listed By CRMLS_CA / Frank Ponce / Coldwell Banker Realty / 310-503-4158

Last checked: Checking… • Last updated Nov 23, 2024 •

MLS# PV24235528 —

The Building

Year Built:

1951
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Accessibility Features:

None
Common Walls:

2+ Common Walls
Building Area Total:

4616.00
Building Area Units:

Square Feet
# of Buildings:

2
Total Number Of Units:

7
Stories Total:

2
# of Separate Gas Meters:

7
# of Separate Water Meters:

1
# of Separate Electric Meters:

7

Interior

Features:

Ceiling Fan(s)
Levels:

Two
Entry Location:

1
Flooring:

Vinyl
Room Type:

All Bedrooms Down, Kitchen, Living Room
Fireplace:

No
Fireplace:

None
Laundry:

Dryer Included, Washer Included
Laundry:

1

Location

Directions:

From 405, exit west on Manchester, left on Ramsgate, to Reading
Latitude:

33.95711100
Longitude:

-118.38188800

The Property

Property Type:

Residential Income
Subtype:

Apartment
Zoning:

LAR3
Lot Features:

0-1 Unit/Acre
Lot Size Area:

7008.0000
Lot Size Acres:

0.1609
Lot Size SqFt:

7008.00
Lot Size Source:

Assessor
Exclusions:

None
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

2772.00
Tax Tract:

15283
Tax Lot:

97

The Listing

Special Listing Conditions:

Standard
Parcel Number:

4125014002
Showings Begin:

2024-11-17

Heating & Cooling

Heating:

1
Heating:

Wall Furnace
Cooling:

No
Cooling:

None

Utilities

Utilities:

Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Sewer:

Public Sewer
Electric:

220 Volts
Water Source:

Public

Appliances

Appliances:

Microwave, Refrigerator
Included:

Yes

The Community

Senior Community:

No
Features:

Sidewalks, Storm Drains, Street Lights
Pool:

None
Private Pool:

No
Inclusions:

None
Association:

No
Assessments:

No
Assessments:

None

Parking

Parking:

Yes
Parking:

Assigned
Parking Spaces:

4.00
Garage Spaces:

4.00

Extra Units

Average 1 Bed Area:

600
Average 2 Bed Area:

755
Number With Disposal:

7
Number With Refrigerator:

7

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source
3/7/24 Mar 7, 2024	Sold	BRIDGE
2/2/24 Feb 2, 2024	Price Changed	CRMLS_CA
1/8/24 Jan 8, 2024	Listed / Active	CRMLS_CA

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This multifamily located in Silicon Beach, Los Angeles, CA 90045 is currently for sale for $2,975,000. 8819 Reading Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 7 days. 8819 Reading Avenue is in the Silicon Beach neighborhood of Los Angeles and has a WalkScore® of 64, making it somewhat walkable. This multifamily is in the attendance area of Westchester Enriched Sciences Magnets, Orville Wright Steam Magnet Middle School, and Westport Heights Elementary School.

Listing Courtesy of: CRMLS_CA and Coldwell Banker Realty. Based on information from California Regional Multiple Listing Service, Inc. as of 07:09 on Nov 24.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.