Listed by Brice Head, CBRE, Inc.,

8732 Reading Avenue

Los Angeles, CA, 90045

$7,799,000

$531 per ft²
$7,799,000
$531 per ft²
Active
Active
 - For Sale
baths
18 Baths
carpenters-square
14,668 ft²
property_type
Multi-family
calendar
Built 2015
BRING ALL OFFERS! 2015-construction in Westchester! Massive, 14,668 sq. ft. fully-secured "lobby" building with elevator and on-grade parking structure (20 striped spots). All units have A/C and forced-air heat & are separately-metered for ALL utilities, including water. The seller self-manages and does not typically raise rents, after move-in, leaving MASSIVE unrealized upside for a Buyer. The 2015-construction means NO rent control of any kind for another 8 years. IMMEDIATE UPSIDE that is actionable now, for an investor, unlike 99% of other apartment buildings in the state, which are subject to city of LA RSO or AB 1482. Additional, potential upside through condo conversion. All the groundwork is laid in terms of 'build' and layout, seemingly. A savvy Buyer could pursue a tract map. Buyer to verify. Condos in the Westchester/MDR/PDR corridor routinely sell at $1,000,000. YTD average sales price is $1,033,000.
MLS® ID:
22215141
Listed:
11/2/22
Updated:
12/1/22

Interior Features

Total Bedrooms
0
Total Bathrooms
18
Heating
Forced Air

Exterior/Building Features

Lot Size
0.27 acres lot

Other Property Details

Area Name
C29 - Westchester
Garage
No
Parking
Side By Side
Parking Total
20.0
View
N
County
Los Angeles
Pool
No
Total Stories
3
Zoning
LAR3

Courtesy of CBRE, Inc., Brice Head,
Listing Contact:  

Based on information from California Regional Multiple Listing Service, Inc. as of 12/1/22. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing.  Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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Data last updated 5:41 AM UTC, 12/1/22

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