8819 Reading Ave
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8819 Reading Ave
7 Unit Apartment Building $2,750,000 ($392,857/Unit) 5.07% Cap Rate Los Angeles, CA 90045
Investment Highlights
- Just minutes from Sofi Stadium, LAX, Silicon Beach, West LA, and the South Bay
- Double-Paned Windows
- New Roof
Executive Summary
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, a new roof, 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. Seller pays 2% to procuring broker.
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.
The building boasts 4 newly remodeled units and recent upgrades, including dual-pane windows, copper plumbing, a new roof, 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. Seller pays 2% to procuring broker.
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.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,750,000 | Property Subtype | Apartment |
| Price Per Unit | $392,857 | Apartment Style | Low Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.07% | Lot Size | 0.16 AC |
| Sale Conditions | 1031 Exchange | Building Size | 4,616 SF |
| Gross Rent Multiplier | 14.91 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1951 |
| Price | $2,750,000 |
| Price Per Unit | $392,857 |
| Sale Type | Investment |
| Cap Rate | 5.07% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 14.91 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 4,616 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1951 |
Unit Amenities
- Washer/Dryer
- Ceiling Fans
- Stainless Steel Appliances
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $3,314 | 705 - 755 |
| 1+1 | 4 | $1,605 | 600 |
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PROPERTY TAXES
| Parcel Number | 4125-014-002 | Total Assessment | $2,054,790 (2024) |
| Land Assessment | $1,430,550 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $624,240 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4125-014-002
Land Assessment
$1,430,550 (2024)
Improvements Assessment
$624,240 (2024)
Total Assessment
$2,054,790 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | LAR3 (Multiple Dwelling) |
| LAR3 (Multiple Dwelling) |
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8819 Reading Ave
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