Listed by Brice Head with CBRE, Inc.

8732 Reading Avenue

Los Angeles, CA, 90045

$7,099,999

$484 per ft²
$7,099,999
$484 per ft²
Active
Active
 - For Sale
baths
18 Baths
carpenters-square
14,668 ft²
property_type
Multi-family
calendar
Built 2015
JUST REDUCED $700K! DELIVERABLE UNDER REPLACEMENT VALUE! 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 a lot of 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 and investor, unlike 99% of other apartment buildings in the state, subject to LA RSO or AB 1482. And massive upside in the future through potential condo conversion, with condos in Westchester/MDR/PDR averaging $1,033,000!
MLS® ID:
22215141
Listed:
11/2/22
Updated:
3/25/23
Coldwell Banker
Frank Ponce
Mobile: (310) 503-4158Email: frank@frankponce.com

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
Buyer Agency Compensation
2.500

Property History

Date
Event
Price
Value
12/2/22
Price Change
$7,400,000
-5%
12/6/22
Price Change
$7,099,999
-4%

Listing Contact:  

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/25/23. 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, the 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. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2023 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 3/25/23 at 1:31 PM UTC

Coldwell Banker
Frank Ponce
Mobile: (310) 503-4158Email: frank@frankponce.com
Contact