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8733 Reading Ave

Los Angeles, CA 90045
  • $3,695,000
  • STATUS: Active
  • ON SITE: 14 Days
  • MLS #: 24-409445
UPDATED: 81 min ago
$3,695,000
  • 0
    BEDS
  • 0.35
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Vacant Land / Lots
County:
Area:

School Ratings & Info

Description

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.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-13T20:42:59.927. 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.
www.deserthouseseekers.com/homes/152142016
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8733 Reading Ave Los Angeles, CA 90045

  • Price: $3,695,000
  • Status: Active
  • On Site: 14 Days
  • Updated: 81 min ago
  • MLS #: 24-409445
0
Beds
0
Baths
0
½ Baths
0.35
Acres
Neighborhood:
Westchester
County:
Los Angeles
Area:
Westchester
Property Description
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.
Exterior Features

Horse YN No Lot Description 2-4 Lots Lot Location Alley Access Lot Size Area 15334 Road Frontage 124 and 124 feet - corner lot at alley View Description Other View YN Yes

Property Features

Cable YN Yes Disclosures As IsRent ControlOther Potential Usage RTI 45 Unit Residential Project in a Strong Rental Market near LAX Jobs Center Present Use Boarded up units. Sale Type Standard Source Lot Size Area Assessor Source Lot Size Dimensions Assessor Zoning R3-1 Tier 3

Listing provided courtesy of Dario Svidler DRE#01884474 of Keller Williams Beverly Hills: 310-432-6400.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2024-07-13T20:42:59.927. 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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Zwemmer Realty Group | Keller Williams Realty
75486 Augusta Drive
Indian Wells CA, 92210