8733 Reading Ave, Los Angeles, CA 90045
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8733 Reading Ave Los Angeles, CA 90045

$3,695,000
  • -- Beds
  • -- Baths
  • -- Sq.Ft.
For Sale
$3,695,000 Get Pre-Qualified

Map preview of 8733 Reading Ave, Los Angeles, CA 90045

Property Overview: 8733 Reading Ave Los Angeles, CA has -- bedrooms, -- bathrooms, -- living square feet and 15,334 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are proud to present for sale a Fully Ready-to-Issue Development Opportunity for 45 Units in Prime Westchester! Near LAX and just off the Metro K Line Expansion (aka Crenshaw Line) and the coming LAX People Mover / Airport Metro Connector, the lot is near the existing Westchester / Veterans Metro Station. The property is in a Very Walkable location (per Walk Score) with Good Transit and is Bikeable, deep in a highly sought-after area surrounded by jobs and everything that your future tenants could desire. The 45 unit design includes around 28,528 SF of rentable square footage, with 9 ADUs and 8 restricted affordable units (or avoid the restricted affordable units and place the building under Rent Control), but mostly market rate units. The Project Design focused on efficiencies, forgoing internal parking (which is mitigated by the Metro K Line - there should be ample space on the alley-side of the building that may be able to fit up to 14 spaces), to be built on grade, with a very stacked layout. The majority of the units will be two bedrooms, with some one and three bedroom units throughout. The corner lot location and alley should also make for an easier time during construction. The property sits near the beach, Sofi Stadium, LAX, Santa Monica, Venice and so much more! The area is a strong rental marker with high income earners, but the property also qualifies for Tier 2 SAFMR, perfect for Section 8 tenants for the Affordable Units. The area has a neighborhood feel, close to major streets, but off the car-beaten path, with a lot of smaller developments all around! Listing includes two APNs: 4125-015-001 and 4125-015-002.

Listed by Dario Svidler | BRE #01884474 | Keller Williams Beverly Hills
Last checked: 9 minutes ago | Last updated: July 6th, 2024 | Source CRMLS | DOM: 19
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Home details

Lot Sq. Ft
15,334
HOA Dues
$0/mo
Year built
--
Garage
--
Property Type:
Land
Status
Active
MLS#
24409445
City
Los Angeles
County
Los Angeles
Time on Site
20 days

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Property Details for 8733 Reading Ave

Lot Details / Garage and Parking
Lot Information
  • Lot Size Source: Assessor
Property Information
  • Has View
  • Parcel Number: 4125015001
  • Has Additional Parcels
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Near LAX. Just west of the 405 and south of Manchester Ave.
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Sale History for 8733 Reading Ave

Last sold for $2,400,000 on September 14th, 2023
  • June, 2024

  • Jun 28, 2024

    Date

    Active

    CRMLS: 24409445

    $3,695,000

    Price

  • September, 2023

  • Sep 14, 2023

    Date

    Sold

    CRMLS: 23260215

    $2,400,000

    Price

  • Apr 17, 2023

    Date

    Active

    CRMLS: 23260215

    $3,000,000

    Price

  • Listing provided courtesy of CRMLS

    We are delighted to present an exceptional, fully vacant six-unit property in the thriving Westchester neighborhood of Los Angeles. This unique investment opportunity, sprawled across a double-wide lot, consists of six two-bedroom one units, perfect for transformation into high-quality living spaces. This property is located at 8733-8739 Reading Ave and has received a Letter of Determination for 34 buildable units. This development can be purchased individually, or as part of a combined 288 buildable unit portfolio within a quarter-mile radius with a total asking price of $24,725,000. This location is strategically situated just minutes from the world-renowned LAX airport, surrounded by major employers such as Google, Northrop Grumman, and Boeing, making it an ideal location for those seeking employment opportunities. The area also offers easy access to SoFi Stadium, home to the Los Angeles Rams and Chargers, which has become a major entertainment destination that hosts a variety of events throughout the year. A few miles west is Playa Del Rey, a vibrant beach town offering a relaxed atmosphere, access to the beach, and a variety of local shops and restaurants. Loyola Marymount University, one of the top private universities in the region, is also less than three miles away, adding a strong educational element to the area. Additionally, located just southwest of Westchester, El Segundo is a booming city home to the headquarters of several major corporations, including Mattel, Raytheon, and SpaceX. The average household income within two miles of this property assemblage exceeds $100,000, reflecting the tremendous economic strength of the area. In 2022, Google leased nearly 53,000 square feet of space in Playa Vista, indicating the strong potential for growth and development in the area. This unique investment opportunity is not to be missed by developers and institutions looking to quickly expand their ground-up portfolio and capitalize on the unlimited potential of this central area. With the acute housing shortage in Los Angeles, this opportunity also presents a chance to create high-quality housing options for one of the highest rental demand markets in California.

  • November, 2017

  • Nov 21, 2017

    Date

    Sold (Public Records)

    Public Records

    $2,000,000

    Price

  • July, 2002

  • Jul 31, 2002

    Date

    Sold (Public Records)

    Public Records

    $360,000

    Price

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Tax History for 8733 Reading Ave

Assessed Value (2020): $2,080,800
Year Land Value Improved Value Assessed Value
2020 $1,872,720 $208,080 $2,080,800

Home Value Compared to the Market

This property vs the competition

8733 Reading Ave is listed 207.92% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000.

About 8733 Reading Ave

Detailed summary of property

8733 Reading Ave is a land located in Los Angeles, CA 90045 and is currently for sale. This land offers -- bedrooms, -- bathrooms, roughly -- living square feet, and sits on an approximately 15,334 square foot lot. 8733 Reading Ave was first listed on ArdentRealEstateGroup.com on June 28, 2024. The homeowner is currently asking $3,695,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 207.92% higher than the median priced home. Local competing homes currently for sale include 2381 Sunset Plaza Dr, 440 N Virgil Ave and 1119 Linda Flora Dr. While the average home in Los Angeles, CA is selling in 101 days, 8733 Reading Ave has a days on market of 19 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2723 of them are single family homes while 1208 of them are condos and 114 are townhomes. For more information on this home for sale at 8733 Reading Ave Los Angeles, CA 90045 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 8733 Reading Ave

Public county record property details
Beds
6
Baths
3
Year built
1949
Sq. Ft.
2,376
Lot Size
8,140
Stories
--
Type
Triplex (3 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
86
APN
4125-015-001

The source for these homes facts are from public records.

90045 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,649,000
Median List Price/Sq.Ft.
$854
Median Sold Price
$1,555,000
Median Sold Price/Sq.Ft.
$871
Total Inventory
98
Median Sale to List Price %
97.49%
Avg Days on Market
27
Loan Type
Conventional (9.68%), FHA (0%), VA (0%), Cash (25.81%), Other (9.68%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.