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8739 Reading Avenue
Los Angeles, CA 90045
Sold
8739 Reading Avenue
Los Angeles, CA 90045
Sold
Presenting a rare opportunity for a developer to acquire a development deal in the highly sought-after Westchester neighborhood. This property is located at 8733-8739 Reading Ave and has received a Letter of Determination for 34 buildable units. There are six vacant two bedroom one bath units on the property. 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 $28,300,000. 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.
PROPERTY INFORMATION
| MLS # | 23260223 | Lot Size | 15,335 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 2,800,000
Price Per SqFt: $ 183 |
DOM | 783 Days |
| Address | 8739 Reading Avenue | Type | Land |
| City | Los Angeles | Sq.Ft. | 15,335 Sq. Ft. |
| Postal Code | 90045 | Garage | N/A |
| County | Los Angeles | Year Built | |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | Status | Closed | |
| Sold Date | 2023-09-14 |
INTERIOR FEATURES
EXTERIOR FEATURES
WALKSCORE
Walk Score: 71 (Very Walkable)
Transit Score: 61 (Good Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $2,987
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 04/17/2023 | Listed | $3,000,000 |
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Listing provided courtesy of Benjamin J. Hsiang, Realty Investment Advisors, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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.
