8732 Reading AveLos Angeles, CA 90045

  • Residential income properties
  • 14,668 SF
For Sale
$4,995,000 View listing

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
8732 Reading Ave, Los Angeles, California

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$71,124
$3,636,000
$2,140,330
$5,776,330
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