NOT LISTED FOR SALE

8922 Reading Ave Los Angeles, CA 90045

Westchester Neighborhood
16 Beds
8 Baths
7,084 Sq Ft
0.32 Acres

Last Sold January 12, 2024

Last sale price $2,300,000 $325 Per Sq Ft

224 Days on Market

About This Home

As of January 2024

We are excited to showcase this unique, fully vacant eight-unit property in the heart of Westchester, Los Angeles. An exceptional opportunity for value-add investors and owner-users, the building offers eight spacious two-bedroom one bath units that are primed for renovation. The potential to add Accessory Dwelling Units (ADUs), subject to state and local laws, offers an additional avenue for enhancing the value and revenue of this property. The opportunity to rent at market-rate rentals post-Ellis Expiration on November 3, 2023, provides an appealing prospect in the thriving rental market of Westchester. With its close proximity to major employers, recreational venues, and esteemed educational institutions, this property is ideally positioned to attract a diverse tenant pool. This unique offering presents a rare opportunity to invest and establish a presence in one of LA's most in-demand neighborhoods, capitalizing on the building's current vacancy and potential for transformation.

Last Agent to Sell the Property

Benjamin Hsiang

Realty Investment Advisors, Inc. License #01438644 Listed on: 04/17/2023

Co-Listed By

Don Favia

Realty Investment Advisors, Inc. License #01841258

Last Buyer's Agent

Out of Area Out of Area

Out of Area

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1951

Lot Details

  • 0.32 Acre Lot

Parking

  • 8 Parking Spaces

Interior Spaces

  • 7,084 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Community Details

  • 2 Buildings
  • 8 Units

Listing and Financial Details

  • Assessor Parcel Number 4125-017-020

Property Details

Home Type

Multi-Family

Year Built

Built in 1951

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 7084
  • Lot Acreage: 0.3160
  • Stories: 2
  • Year Built: 1951
  • Number Of Photos: 2
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 16
  • Total Bathrooms: 8.00
  • Price Per S Q F T: 345.85

Exterior Features

  • Other Structures: None

Garage/Parking

  • Total Parking: 8

Lot Info

  • Assessed Improvement Percent: 26.92
  • Assessed Improvement Value: 750540
  • Assessed Land Percent: 73.08
  • Assessed Land Value: 2037183
  • Total Assessed Value: 2787723
  • Assessor Parcel Number: 4125-017-020
  • Lot Size Area: 13764

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 9.91
  • Number Of Units: 8
  • Total Annual Expense: 59973
  • Type Of Units: Apartments
  • Vacancy Allow Percent: 3.00
  • Vacancy Rate: 100%

Range of Values:

Collateral Analytics

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ICE

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/12/2024 01/12/24 Sold $2,300,000 -6.1% $325 / Sq Ft
11/27/2023 11/27/23 Pending -- -- --
10/11/2023 10/11/23 For Sale $2,450,000 0.0% $346 / Sq Ft
08/23/2023 08/23/23 Pending -- -- --
08/08/2023 08/08/23 Price Changed $2,450,000 -7.5% $346 / Sq Ft
05/21/2023 05/21/23 Price Changed $2,650,000 -14.5% $374 / Sq Ft
04/17/2023 04/17/23 For Sale $3,100,000 +202.4% $438 / Sq Ft
04/08/2016 04/08/16 Sold $1,025,000 -1.4% $289 / Sq Ft
01/07/2016 01/07/16 Pending -- -- --
10/09/2015 10/09/15 For Sale $1,040,000 -- $294 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Benjamin Hsiang

    Seller's Agent in 2024

    Benjamin Hsiang

    Realty Investment Advisors, Inc.

    (424) 377-6001

    11 in this area

    73 Total Sales

    Benjamin Hsiang
    Section Image
  • Don Favia

    Seller Co-Listing Agent in 2024

    Don Favia

    Realty Investment Advisors, Inc.

    (424) 377-6007

    11 in this area

    26 Total Sales

    Don Favia
    Section Image

  • O

    Buyer's Agent in 2024

    Out of Area Out of Area

    Out of Area

  • D

    Seller's Agent in 2016

    David Harrington

    Matthews Real Estate Investment Services

    Section Image
  • Jerry Morales

    Buyer's Agent in 2016

    Jerry Morales

    eXp Realty of California Inc

    (310) 292-2590

    25 Total Sales

    Jerry Morales
    Section Image
See All Agents

Map

Source: The MLS

MLS Number: 23-260239

The MLS

APN: 4125-017-003

California Los Angeles County Los Angeles 90045 Westchester

8922 Reading Ave, Los Angeles, CA

This home is located at 8922 Reading Ave, Los Angeles, CA 90045 since 17 April 2023. This property was built in 1951. 8922 Reading Ave is a home located in Los Angeles County with nearby schools including Westport Heights Elementary, Wright Middle School STEAM Magnet, and Westchester Enriched Sciences Magnets.

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The MLS © 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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