8819 Reading Avenue, Los Angeles, CA 90045

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. Listed at $2,599,000, the property currently generates $16,106 per month ($193,272 annually) with three vacancies, presenting a rare opportunity for immediate income growth. With a 21% rental upside, the property has the potential to produce $19,500 per month ($234,000 annually) at market rents, achieving a cap rate of 6.15% and a GRM of 11.11. Currently, it operates at a 4.77% cap rate and a GRM of 13.45. The property includes four 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, three immediate lease-up opportunities, and substantial rental upside in a high-demand area, 8819 Reading Avenue is a compelling investment in the thriving Westchester market.

Interior Features

Laundry Information
Location(s) Stacked
Bedroom Information
Bedrooms 10
Bathroom Information
Bathrooms 7
Interior Information
Cooling Type None

Listing Information

Address 8819 Reading Avenue
City Los Angeles
State CA
Zip 90045
County Los Angeles
Listing Agent John McCann DRE #01963932
Courtesy Of Lyon Stahl Investment Real Estate, Inc.
List Price $2,599,000
Status Active
Type Residential Income
Structure Size 4,616
Lot Size 7,006
Year Built 1951

Listing information courtesy of: John McCann, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 21st, 2025 at 9:08 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.