$2,000,000 Price Analysis   ♡   Los Angeles, CA 90045 10 bed 6 bath 4,516 SqFt ($442/SqFt) 7,008SqFt lot. Built 1951 Listed 2024-01-25, Taxes $18,109 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are proud to present the Reading Apartments
* No Longer For Sale *
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A six-unit multifamily asset located in the trending community of Westchester. The property features clean and bright single level units with washer/dryers, front and rear entry and off-street parking for each unit from the alley. The property has been well maintained over the years and includes copper plumbing and dual pain windows. Westchester has experienced dramatic housing and rent rental appreciation in recent years due to its supply of smaller, 1950's vintage entry level homes, its proximity to tech employment centers and nearby picturesque beaches.
Opportunity for equity growth and increased yield exists with unit turnover and renovation. Additionally, due to its preferential TOC tier 3 zoning, the property could potentially support a new development of up to 17 units or one could potentially utilize the garage for ADU conversion/s for increased cash flow. In total, investors looking for secure and predictable long-term returns, with the opportunity to develop mre units should take notice. Current rents favorably align the property's pricing to GRM and CAP rate expectations for this submarket, making this asset a meaningful option for savvy investors.
Presented by Scott Rosenberg at
RE MAX Estate Properties.
Property MLS #22-119627 from TheMLSCLAW
Full Bathrooms: 6
Laundry Features: In Unit
Garage Spaces: 4
Garage Description: Carport Attached, Garage - 4+ Car
Parking Total: 6
Lot Size Acres: 0.1608356
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 7006
Calculated Total Monthly Association Fees: 0
Number of Units: 6
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 2000, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 2000, 3 BedsTotal: 1, 3 BathsTotal: 1, 3 SquareFeet: 2000, 4 BedsTotal: 2, 4 BathsTotal: 1, 4 SquareFeet: 2600, 5 BedsTotal: 1, 5 BathsTotal: 1, 5 SquareFeet: 2000, 6 BedsTotal: 2, 6 BathsTotal: 1, 6 SquareFeet: 2600
County: Los Angeles
Cap Rate: 4.09
Directions: 8819 Reading Ave, Los Angeles, CA 90045
Source Property Type: Residential Income
Area: Westchester
Source Neighborhood: Westchester
Owner Pays: Water, Gardener
Parcel Number: 4125-014-002
Postal Code Plus 4: 4670
Zoning: LAR3
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $382,774 + $1,093,646 $1,476,420 | $18,109 |
| 2021 | $375,269 + $1,072,202 $1,447,471 | $17,880 |
| 2020 | $371,422 + $1,061,208 $1,432,630 | $18,069 |
| 2019 | $364,140 + $1,040,400 $1,404,540 | $17,369 |
| 2018 | $357,000 + $1,020,000 $1,377,000 | $17,260 |
| 2017 | $350,000 + $1,000,000 $1,350,000 | $16,850 |
| 2016 | $146,695 + $92,142 $238,837 | $3,532 |
| 2015 | $144,492 + $90,758 $235,250 | $3,490 |
| 2014 | $141,662 + $88,981 $230,643 | $3,544 |
| 2013 | $141,022 + $88,579 $229,601 | $3,528 |
| 2012 | $138,257 + $86,843 $225,100 | $3,570 |
| 2010 | $135,547 + $85,141 $220,688 | $3,434 |
| 2009 | $134,854 + $84,706 $219,560 | $3,316 |
| 2009 | $134,534 + $84,505 $219,039 | $3,316 |
| 2008 | $132,210 + $83,046 $215,256 | $3,198 |
| 2007 | $129,618 + $81,418 $211,036 | $3,089 |
$2,950
TheMLSCLAW
Listing removed 2024-08-08
$0
TheMLSCLAW
Relisted 2024-07-05
$2,199,000
TheMLSCLAW
Listing removed 2024-05-08
$0
TheMLSCLAW
Listed 2024-04-02
$2,199,000
TheMLSCLAW
Listing removed 2024-03-01
$0
TheMLSCLAW
Price Changed 2024-02-02
$2,199,000
TheMLSCLAW
Listed 2024-01-09
$2,239,000
TheMLSCLAW
Listing removed 2023-09-25
$0
TheMLSCLAW
Listed 2023-05-30
$2,235,000
TheMLSCLAW
Listing removed 2023-04-17
$0
TheMLSCLAW
Price Changed 2023-02-15
$2,279,000
TheMLSCLAW
Listed 2022-12-06
$2,385,000
TheMLSCLAW
Listing removed 2022-09-14
$0
TheMLSCLAW
Price Changed 2022-08-30
$2,415,000
TheMLSCLAW
Price Changed 2022-08-16
$2,429,000
TheMLSCLAW
Price Changed 2022-07-26
$2,465,000
TheMLSCLAW
Listed 2022-06-27
$2,515,000
TheMLSCLAW
Sold 2022-04-15
$1,975,000
TheMLSCLAW
Sold 2016-08-19
$3,845,000
Public Record
Sold 1976-09-30
$120,000
Public Record
Year Built: 1951
Living Area Source: Vendor Enhanced
Property Age: 73
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
Security Features: Carbon Monoxide Detector(s), Fire and Smoke Detection System
Map directions Map directions Map directions Map directionsThe property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.