8732 Reading AveLos Angeles, CA 90045
- Residential income properties
- 14,668 SF
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
- Residential income properties
- Property subtype
- Other 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.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
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
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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