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9050 Reading Ave Los Angeles, CA 90045

$1,330,000 Sold Price as of 08/08/2023

5 Beds
4 Baths
3,090 Sq.Ft.

Sold

$1,330,000 Sold Price as of 08/08/2023 Refinance Your Mortgage

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Map preview of 9050 Reading Ave, Los Angeles, CA 90045

Property Overview: 9050 Reading Ave Los Angeles, CA has 5 bedrooms, 4 bathrooms, 3,090 living square feet and 8,016 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: We are thrilled to present an exciting investment proposition in the desirable Westchester neighborhood. This fourplex, with three one-bedroom one units and one two-bedroom one bath unit, three of which are delivered vacant, offers a substantial value-add opportunity for investors and owner-users. The potential to add ADUs, subject to state and local laws, make this property a compelling prospect. The Westchester location, with its average household income exceeding $100,000, reflects the area's economic strength and high rental demand. The property's proximity to significant employers, recreational venues, and educational institutions further enhances its attractiveness to potential tenants.

Listed by Benjamin J. Hsiang | BRE #01438644 | Realty Investment Advisors, Inc.
Co-listed by Don Favia | BRE #01841258 | Realty Investment Advisors, Inc.

Last checked: 1 minute ago | Last updated: August 8th, 2023 | Source CRMLS | DOM: 90

Home details

Lot Sq. Ft: 8,016
HOA Dues: $0/mo
Year built: 1950
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 23260463
City: Los Angeles
County: Los Angeles
Time on Site: 331 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 4
Total # of Buildings: 3

Unit Breakdown 1

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,075
Total Rent: $0
Pro Forma/Market Rent: $2,075

Unit Breakdown 2

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,075
Total Rent: $0
Pro Forma/Market Rent: $2,075

Unit Breakdown 3

# of Units: 1
# of Beds: 1
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $1,378
Total Rent: $1,378
Pro Forma/Market Rent: $2,075

Unit Breakdown 4

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Actual Rent: $2,575
Total Rent: $0
Pro Forma/Market Rent: $2,575

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 4.91%
Gross Rent Multiplier: 13.63
Gross Scheduled Income: --
Net Operating Income: $65,043
Gross Operating Income: $94,322

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 9050 Reading Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

No Heating
None

Lot Details / Garage and Parking

Parking/Garage Information

# of Parking Spaces: 6
No
Parking Features: None

Lot Information

Lot Size Source: Other

Property Information

No View
View: None
Total # of Units: 4
Parcel Number: 4125011047

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: West on W. Manchester Ave, South on Ramsgate Ave, East on Reading Ave

View more facts & features

Local Los Angeles Agent

Sale History for 9050 Reading Ave

Last sold for $1,330,000 on August 8th, 2023

August, 2023
Aug 8, 2023

Date

Sold

CRMLS: 23260463

$1,330,000

Price
Apr 17, 2023

Date

Active

CRMLS: 23260463

$4,550,000

Price
May, 2018
May 25, 2018

Date

Sold (Public Records)

Public Records

$1,450,000

Price
March, 2017
Mar 15, 2017

Date

Sold (Public Records)

Public Records

$1,165,000

Price

Tax History for 9050 Reading Ave

Assessed Value (2020): $1,508,580

Year	Land Value	Improved Value	Assessed Value
2020	$1,040,400	$468,180	$1,508,580

Home Value Compared to the Market

This property vs the competition

9050 Reading Ave sold on August 8, 2023 for 11.34% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $428.8 per/sqft which puts the price per square foot 43.2% lower than the current median sale per square foot for the city of Los Angeles.

About 9050 Reading Ave

Detailed summary of property

9050 Reading Ave is a multi family that recently sold in Los Angeles, CA 90045. This multi family property offered 5 bedrooms, 4 bathrooms, roughly 3,090 living square feet, and sits on an approximately 8,016 square foot lot. 9050 Reading Ave was first listed on ArdentRealEstateGroup.com on June 5, 2023. The homeowner sold the property for $1,330,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 11.34% higher than the current median priced home. Local homes that are currently for sale include 3313 W 48th St, 3741 S Bentley Ave and 1652 W 81st St. While the average home in Los Angeles, CA is selling in 96 days, 9050 Reading Ave has a days on market of 90 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 9050 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.