8732 Reading AveLos Angeles, CA 90045

Property Details for 8732 Reading Ave

Year built

2014

Construction

WOOD

Lot size

0.27 AC

Property size (Sq ft)

14,668 SF

Zone code

LAR3

Property type

Apartment buildings

APN

4125-016-012

APU

4125016012

Description

This exceptional 11-unit apartment building, located at 8732 Reading Ave, Los Angeles, CA 90045, presents a compelling investment opportunity. The property boasts 15,000 square feet on a 0.27-acre lot and was constructed in 2014, making it a relatively new building. The building features spacious units, all equipped with individually metered utilities, water heaters, air conditioning, and forced-air heating. Secure subterranean parking accommodates 20 vehicles. The building's three stories offer a substantial footprint, totaling approximately 14,668 square feet. A significant advantage is the current exemption from both AB 1482 and the Los Angeles County Rent Stabilization Ordinance (LARSO) for an additional nine years, providing substantial rental upside potential. The asking price is $4,995,000, translating to $454,091 per unit. Its convenient location near LAX adds to its appeal. This property offers a rare combination of new construction, rent control exemption, and significant potential for rental income growth, making it an ideal investment in the thriving Los Angeles market.

• CAP approach

  CAP return

  Valuation

  6%

  $4,202,043

  6.5%

  $3,878,809

  7%

  $3,601,751

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,323,364

  Geo Method

  $4,323,364

• Alternative Use

  Use

  Valuation

  Residential

  $3,878,809

  Hospitality

  $3,552,968

  Educational

  $2,956,028

  Medical

  $3,057,690

  Retail

  $4,598,265

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

33.9591

Longitude

-118.381

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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