8939 Reading Ave | Los Angeles, CA 90045
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- LoopNet Team
8939 Reading Ave
Los Angeles, CA 90045
Multifamily Property For Sale
·
5 Units
Investment Highlights
- Unit Mix: (1) 2 Bed/1 Bath Unit and (3) 1 Bed/1 Bath Units with all (4) Units being Separately Metered for Gas & Electricity
- Value Add Opportunity: Property has an achievable 103% Rent Upside on Current, In-Place Rents with a Market CAP Rate approaching 7.00%.
- Low Turnover, High Demand Submarket: Since the end of 2018, only (1) Quadruplex has sold within a Mile Radius of the property
- Garage Parking: There are (4) Garage Parking Spaces on site, which is especially important in this Parking Impacted Submarket
- Favorable Zoning w/ Density Bonus: In addition to its favorable R3 Zoning, this Lot also sits in a Tier 3 TOC Zone and is afforded a 70% Density Bonus
Property Facts
| No. Units | 5 | Lot Size | 0.16 AC |
| Property Type | Multifamily | Building Size | 2,829 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1950 |
| Building Class | C | ||
| Zoning | LAR3 - Zoned LAR3 w/ Tier 3 TOC Density Bonus | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.16 AC |
| Building Size | 2,829 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Zoning | LAR3 - Zoned LAR3 w/ Tier 3 TOC Density Bonus |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 1+1 | 4 | - | - |
Property Taxes
| Parcel Number | 4125-014-012 | Improvements Assessment | $200,000 |
| Land Assessment | $1,136,000 | Total Assessment | $1,336,000 |
Property Taxes
Parcel Number
4125-014-012
Land Assessment
$1,136,000
Improvements Assessment
$200,000
Total Assessment
$1,336,000
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