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$ 2,800,000
Est. payment | /mo
4,616 SqFt
$ 2,800,000
Est. payment | /mo
4,616 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4,616 sqft
Price per Sqft $606
MLS Listing ID CL25527413
HOA Y/N No
Year Built 1951
Lot Size 7,008 Sqft
Acres 0.16
Property Sub-Type Other
Property Description
Located at 8819 Reading Avenue in the highly desirable Westchester neighborhood, this multifamily property offers a prime investment opportunity with significant upside potential. 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. The property currently generates $16,026 per month ($192,312 annually) with one vacancy, presenting a rare opportunity for immediate income growth. With a 23% rental upside, the property has the potential to produce $19,760 per month ($237,120 annually) at market rents. The property includes three dedicated parking spaces and ample street parking, ensuring convenience for tenants in an area where parking is a premium. Each unit features in-unit laundry, and the property is well-maintained, with several units in excellent condition and the newly built ADU adding value. 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,
Location
State CA
County Los Angeles
Zoning LAR3
Interior
Heating Wall Furnace
Fireplace No
Appliance Dryer
Laundry Dryer
Building
New Construction No
Others
Tax ID 4125014002

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Listed by John McCann • Lyon Stahl Investment Real Estate, Inc.
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