8819 Reading Avenue

Los Angeles, CA 90045

$2,799,000
Price
5
Beds
7
Baths
4,616 Sq. Ft.
$606 / Sq. Ft.
4,616
Sq. Ft.
$606
per Sq. Ft.

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,...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.
  1. Listed by Frank Ponce • DRE #00861049 • Brokerage DRE #00616212 • Coldwell Banker Realty • 310-503-4158
  2. Listed by Viktorie Miksatkova • DRE #02126640 • Brokerage DRE #00616212 • Coldwell Banker Realty

Property Details for 8819 Reading Avenue

Parking Spaces Total
4
Private Pool
No
Cooling Type
N/K
Total Units
7.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
4616
Assessor Parcel Number
4125-014-002
LISTING UPDATED: 12/12/2024 12:37 PM

Property Details for 8819 Reading Avenue

StatusActive
MLS #PV24235528
Days on Market34
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
CountyLos Angeles County

Virtual Tour

Building Information for 8819 Reading Avenue

Building/Complex8819 Reading AveFloor-Stories2Residences-Pet Policy-Year Built1951Building Size-

Property Information for 8819 Reading Avenue

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $191,088
  • Gross Scheduled Income: $191,088
  • Vacancy Allowance Rate: 3
  • Net Operating Income: $137,833
Expense Details
  • Operating Expense: $47,522
  • New Taxes Expense: $35,700
  • Gardener Expense: $1,400
  • Licenses Expense: $422
  • Electric Expense: $2,200
  • Insurance Expense: $3,000
  • Maintenance Expense: $2,800
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $2,200
  • Total Expenses: $47,522
Tax / Assessment Info
  • Tax Tract Number: 15283
  • Tax Census Tract: 2772.00
  • CFD/Mello-Roos Fee: $905
  • Tax Lot: 97
Community / Development
Community / Development
  • Accessibility Features: None
  • Disability Access: None
  • Assessments YN: No
  • Assessments: None
  • Community Features: Sidewalks, Storm Drains, Street Lights
Property / Structure Info
Interior Features
  • Appliances: Microwave, Refrigerator
  • Equipment: Dryer, Dryer Included, Microwave, Refrigerator, Washer, Washer Included
  • Interior Features: Ceiling Fan(s)
  • Room Type: All Bedrooms Down, Kitchen, Living Room
  • Bedroom Features: All Bedrooms Down
  • Laundry: Yes
  • Laundry Features: Dryer Included, Washer Included
  • Fireplace Features: None
  • Fireplace Rooms: None
  • Cooling: None
  • Heating Type: Wall
  • Heating: Wall Furnace
  • Flooring: Vinyl
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 7
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Electric: 220 Volts
  • Water Source: Public
Parking Info
  • Garage Spaces: 4
  • Parking: Yes
  • Parking Garage: Assigned
  • Parking Garage Spaces: 4
  • Carport Spaces: 0
  • Parking Features: Assigned
Unit Information
Unit 1
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $1,605
  • Unit Type Total Rent: $6,421
  • Unit Type Pro Forma: 2533
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $2,877
  • Unit Type Total Rent: $5,753
  • Unit Type Pro Forma: 2999
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Actual Rent: $3,750
  • Unit Type Total Rent: $3,750
  • Unit Type Pro Forma: 3750
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 6
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number With Range: 7
  • Number With Refrigerator: 7
  • Number With Disposal: 7

Property History for 8819 Reading Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 8819 Reading Avenue

Taxable ValueLand$1,430,550Additions$624,240Total$2,054,790
Tax Record2024$25,553 ($2,129 / month)
Home Facts
Total Finished SqFt3,911 SqFtAbove Grade Finished SqFt3,911 SqFtLot Size7,006 SqFtStyleMulti-Family Res (5+ Units)Year Built1951ZoningLAR3CountyLOS ANGELESAPN4125-014-002

Schools near 8819 Reading Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Westport Heights Elementary School
PublicK to 5

Wesm Health/Sports Medicine
Public9 to 12

Open Charter Magnet School
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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8819 Reading Avenue is a multi-family home for sale in Los Angeles, CA 90045. This property was listed for sale on November 17, 2024 by Coldwell Banker Realty, it's currently listed at $2,799,000. It has been on the market for a total of 34 days and was last sold on April 15, 2022. This listing's school district is Los Angeles Unified School District. Nearby schools include Westport Heights Elementary School, Orville Wright Engineering And Design Magnet and Wesm Health/Sports Medicine. 8819 Reading Avenue is a 5-bed, 7-bath, 4,616 sqft multi-family home built in 1951.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker Realty, Frank Ponce, DRE #00861049; Coldwell Banker Realty, Viktorie Miksatkova, DRE #02126640

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. 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. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.