Arise Investments, in partnership with HVN Development, has acquired 8733 and 8739 Reading Avenue in the Westchester neighborhood of Los Angeles, two triplexes totaling six units, for $2.4 million as part of a 1031 exchange. The seller, a distressed owner liquidating a Westchester portfolio after earlier development plans stalled and carrying costs mounted, needed a buyer who could close quickly and with certainty. Arise moved decisively to acquire the site.
Arise plans to redevelop the combined parcels into a new four-story, 45-unit apartment community with one-, two- and three-bedroom residences near LAX. Don Favia of Favia Investment Group represented the seller.
Update: the project was completed in 2026 as The Stride.