$2,000,000 Price Analysis 8819 Reading AveLos 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 |
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
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 |
The 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.