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Multifamily

8819 Reading Ave

8819 Reading Ave, Los Angeles, CA 90045

Listing Price: $2,515,000

Cap Rate
3.47%
Number of Units
6
Price/Unit
$419,167

Investment Overview

"A pride-of-ownership deal meets value-add deal." The subject property affords an investor and best of both worlds. In addition to exisiting dual-pane windows, copper plumbing, and washer/dryer hookups in ALL units, the building recently had extensive roof ($19K+), foundation ($16K+) and paint upgrades ($11K+) as well as 3 units extensively renovated - 2 done in last 2 months! Subway tile, new cabinetry, flooring, fixtures, stone surfaces, you name it. The reimaging of the facade and landscaping give the asset a very approachable, clean appeal. 2 ADUs, in the garages, can be added. Lastly, Tier 3, TOC Density Bonus allows aggressive redevelopement! AND the Seller will allow potential Buyers to speak with tenants about "cash for keys" during escrow.

Investment Highlights

  • 6 Units with ADU potential
  • Pride of ownership Deal with Vakue-add also
  • "Cash for keys"

Exclusively Listed By

Multifamily

8819 Reading Ave

Listing Price: $2,515,000

Cap Rate
3.47%
Number of Units
6
Price/Unit
$419,167

Investment Highlights

  • 6 Units with ADU potential
  • Pride of ownership Deal with Vakue-add also
  • "Cash for keys"

Investment Overview

"A pride-of-ownership deal meets value-add deal." The subject property affords an investor and best of both worlds. In addition to exisiting dual-pane windows, copper plumbing, and washer/dryer hookups in ALL units, the building recently had extensive roof ($19K+), foundation ($16K+) and paint upgrades ($11K+) as well as 3 units extensively renovated - 2 done in last 2 months! Subway tile, new cabinetry, flooring, fixtures, stone surfaces, you name it. The reimaging of the facade and landscaping give the asset a very approachable, clean appeal. 2 ADUs, in the garages, can be added. Lastly, Tier 3, TOC Density Bonus allows aggressive redevelopement! AND the Seller will allow potential Buyers to speak with tenants about "cash for keys" during escrow.

Exclusively Listed By

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