8819 Reading Avenue

Los Angeles, CA 90045

$2,199,000
Price
8
Beds
6
Baths
3,911 Sq. Ft.
$562 / Sq. Ft.
3,911
Sq. Ft.
$562
per Sq. Ft.

Description

8819 Reading presents a significant value-add opportunity to acquire a 6-unit apartment building in the Westchester neighborhood of Los Angeles. The property is fully leased, with 3 of the 6 units having recently been fully renovated and are now achieving a significant rent premium compared to the unrenovated units on the property. The sale of the property also includes RTI plans for a 2 Bedroom ADU. Recent building upgrades include: replaced roof, installed dual-pane windows, copper plumbing, and...8819 Reading presents a significant value-add opportunity to acquire a 6-unit apartment building in the Westchester neighborhood of Los Angeles. The property is fully leased, with 3 of the 6 units having recently been fully renovated and are now achieving a significant rent premium compared to the unrenovated units on the property. The sale of the property also includes RTI plans for a 2 Bedroom ADU. Recent building upgrades include: replaced roof, installed dual-pane windows, copper plumbing, and painted the exterior of the building. Westchester has received a large overflow of residents seeking less expensive luxury living near their places of employment, providing new ownership the opportunity to continue the value-add renovations at 8819 Reading and capitalize on the increasing demand for premium finishes in this rental market.
  1. Listed by Steffan Braunlich • DRE #01859098 • Brokerage DRE #01308753 • Berkadia

Property Details for 8819 Reading Avenue

Zoning
LAR3
Parcel Number
4125014002
Total Units
6.0
Living Area
3911
Source Living Area
Vendor Enhanced
Area
Westchester (C29)
Vacancy Rate
0
Lot Size Area
7008

Location

Listing Courtesy of Berkadia, Steffan Braunlich, DRE #01859098
Add your commute
LISTING UPDATED: 04/10/2024 12:01 AM

Property Details for 8819 Reading Avenue

StatusActive
MLS #24-375501
Days on Market31
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1951
Lot Size0.16 AC / 7,008 SF
CountyLos Angeles County

Location

Listing Courtesy of Berkadia, Steffan Braunlich, DRE #01859098
Add your commute

Building Information for 8819 Reading Avenue

Stories2Residences-Year Built1951Building Size-Lot Size0.16 AC / 7,008 SF

Payment Calculator

$14,090 per month

30 year fixed, 7.25% Interest

Principal and Interest

$12,001

Property Taxes

$2,089

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 8819 Reading Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $141,709
  • Net Operating Income: $97,849.00
  • Gross Income: $146,092
  • Cap Rate: 4.45%
  • Gross Rent Multiplier: $15.05
  • Total Annual Expense: 43860
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1609
  • Lot Size Square Feet: 7008
Parking Details
Parking Details
  • Parking Garage: Garage, Carport
  • Total Parking: 6
  • Parking Features: Garage, Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Window Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Ceiling Fan, Washer, Dryer, Dishwasher, Refrigerator
  • Interior Features: Ceiling Fan(s)
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-02-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,605.00
  • Unit Actual Rent: $6,421.00
  • Unit Projected Rent: $9,800.00
  • Like Units: 4
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,876.00
  • Unit Actual Rent: $5,753.00
  • Unit Projected Rent: $6,100.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $612,000.00
  • Assessed Improvement Percent: 30.38
  • Assessed Land Value: $1,402,500.00
  • Assessed Land Percent: 69.62
  • Assessed Total Value: $2,014,500.00

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$1,402,500Additions$612,000Total$2,014,500
Tax Record2023$25,067 ($2,089 / 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
Public - K to 5
Rating
School
Distance
Westport Heights Elementary School
PublicK to 5

Westchester Enriched Sciences Magnets
Public9 to 12

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.

Similar Homes

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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 April 2, 2024 by Berkadia, it's currently listed at $2,199,000. It has been on the market for a total of 31 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 Westchester Enriched Sciences Magnets. 8819 Reading Avenue is a 8-bed, 6-bath, 3,911 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. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Berkadia, Steffan Braunlich, DRE #01859098

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.