8922 Reading Avenue, Los Angeles, CA 90045

About this property

We are excited to showcase this unique, fully vacant eight-unit property in the heart of Westchester, Los Angeles. An exceptional opportunity for value-add investors and owner-users, the building offers eight spacious two-bedroom one bath units that are primed for renovation. The potential to add Accessory Dwelling Units (ADUs), subject to state and local laws, offers an additional avenue for enhancing the value and revenue of this property. The opportunity to rent at market-rate rentals post-Ellis Expiration on November 3, 2023, provides an appealing prospect in the thriving rental market of Westchester. With its close proximity to major employers, recreational venues, and esteemed educational institutions, this property is ideally positioned to attract a diverse tenant pool. This unique offering presents a rare opportunity to invest and establish a presence in one of LA's most in-demand neighborhoods, capitalizing on the building's current vacancy and potential for transformation.

Listing description from the January 2024 sale, as reported to CRMLS.

Sale history

$2,300,000

Sold January 2024 · listed $2,450,000, orig. $3,100,000, on market April 2023 · MLS #23260239 · Source: CRMLS

Listing Agent: Benjamin J. Hsiang · Listing Office: Realty Investment Advisors, Inc. · Bought with: Out of Area Out of Area · Out of Area

$1,025,000

Sold April 2016 · orig. $1,040,000, on market October 2015 · MLS #15949105 · Source: CRMLS

Listing Agent: David Harrington · Listing Office: Matthews Retail Group, Inc. · Contact: 866-889-0550 · Bought with: Gerald Morales · Keller Williams Rlty-Marina/LA

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