8739 Reading Avenue

8739 Reading Avenue

Los Angeles, CA 90045

$2,400,000
Last Sold Price
15,335 / 0.35
Lot Size / Acres

Sold 9/14/23

Sold 9/14/23

a front view of a building with parking space and plants

Description

Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8733-8739 Reading Ave and has received a Letter of Determination for 34 buildable units. There are six vacant two bedroom one bath units on the property. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $28,300,000. This location is...Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8733-8739 Reading Ave and has received a Letter of Determination for 34 buildable units. There are six vacant two bedroom one bath units on the property. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $28,300,000. This location is strategically situated just minutes from the world-renowned LAX airport, surrounded by major employers such as Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year. A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX. The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area. This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground-up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.
  1. Listed by Benjamin J. Hsiang • DRE #01438644 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.
  2. Listed by Don Favia • DRE #01841258 • Brokerage DRE #01438644 • Realty Investment Advisors, Inc.

Property Details for 8739 Reading Avenue

Zoning
LAR3
Parcel Number
4125015002
Area
Westchester (C29)
Lot Size Area
15335
Source Lot Size Area
Other
Assessor Parcel Number
4125-015-002
Directions
West on W. Manchester Ave, South on Ramsgate Ave, East on Reading Ave

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Sold By Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Add your commute
LISTING UPDATED: 09/18/2023 08:21 AM

Property Details for 8739 Reading Avenue

StatusSold
MLS #23-260223
Days on Market90
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeLand
MLS TypeLand Lot
Year Built-
Lot Size0.35 AC
CountyLos Angeles County

Location

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Sold By Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

Add your commute

Building Information for 8739 Reading Avenue

Lot Size0.35 AC

Payment Calculator

$14,360 per month

30 year fixed, 7.25% Interest

Principal and Interest

$13,098

Property Taxes

$1,262

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8739 Reading Avenue

Community / Development
Community / Development
  • Senior Community: No
Structure Info
Structure Info
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Land / Lot Info
Land / Lot Info
  • Special Zoning: None
  • Lot Acreage: 0.352
  • Lot Size Square Feet: 15335
  • Telephone: 1.0
  • Cable: 1.0
Parking Details
Parking Details
  • Total Parking: 0
Exterior Features
Exterior Features
  • New Construction: No
Lease Terms
Lease Terms
  • Entry Date: 04-17-2023

Property History for 8739 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 8739 Reading Avenue

Taxable ValueLand$681,503Additions$546,822Total$1,228,325
Tax Record2023$15,141 ($1,262 / month)
Home Facts
Total Finished SqFt2,529 SqFtAbove Grade Finished SqFt2,529 SqFtLot Size7,193 SqFtStyleTriplexYear Built1949ZoningLAR3CountyLOS ANGELESAPN4125-015-002

Schools near 8739 Reading Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Westport Heights Elementary School
Public - K to 5
Orville Wright Engineering And Design Magnet
Public - 6 to 8
Westchester Enriched Sciences Magnets
Public - 9 to 12
Open Charter Magnet School
Charter - K to 5
Rating
School
Distance
Westport Heights Elementary School
PublicK to 5

Orville Wright Engineering And Design Magnet
Public6 to 8

Westchester Enriched Sciences Magnets
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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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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Realty Investment Advisors, Inc., Benjamin J. Hsiang, DRE #01438644; Realty Investment Advisors, Inc., Don Favia, DRE #01841258

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.