1837 E Gage Avenue, Los Angeles, California 90001, Los Angeles, 90001 - bed, bath
ACTIVE$700,000
1837 E Gage Avenue, Los Angeles, California 90001
0Bed
0Bath
1,141Sqft
5,032Lot
Year Built
1921
Close
-
List price
$700K
Original List price
$700K
Price/Sqft
$613
HOA
-
Days on market
-
Sold On
-
MLS number
DW25079775
Home ConditionFair
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $700.0K(50th), sqft - 1141(43th), beds - undefined(50th), baths - undefined(50th).
This is a rare opportunity to own a solid, income-producing duplex at the price of a single-family home! The property features a spacious front house with 3 bedrooms and 2 bath, along with a separate rear unit that has 2 bedrooms, 1 bath PLUS Bonus Studio of 1 bedroom and 1 bath. The first and last units are fully remodeled. This property is offering ample parking for 4 cars, this well-maintained property is fully occupied with long-term, stable tenants. It’s an ideal investment for seasoned investor seeking income-generating addition to their portfolio. Please note: the property will be sold tenant-occupied.
Price History
Date
Event
Price
07/01/21
Sold
$430,000
Condition Rating
Fair
The property, built in 1921, is over 100 years old. While the listing states that two of the three units have been 'fully remodeled,' and the images confirm modern updates in the kitchens (gray shaker cabinets, LVP flooring, black appliances) and bathrooms (gray vanities, modern tiling), the overall age of the structure and the existence of an un-remodeled unit prevent a 'Good' rating. The exterior appears maintained but not recently renovated. The property likely has original or older major systems in un-remodeled sections, requiring potential future updates, as noted in the AI analysis regarding 'Property Age & Potential Maintenance.' The renovated units are in good condition, but the property as a whole fits the 'Fair' category due to its age and partial renovations.
Pros & Cons
Pros
Strong Income Potential: Fully occupied with long-term, stable tenants, ensuring immediate and consistent rental income for investors.
Multi-Unit Configuration: Features three distinct income-generating units (3/2, 2/1, 1/1 studio), offering diversified revenue streams and higher overall rental yield potential.
Value Proposition: Described as being priced comparably to a single-family home, offering significant value for a multi-unit income property in Los Angeles.
Recent Unit Renovations: Two of the three units have been fully remodeled, reducing immediate capital expenditure and enhancing tenant appeal.
Ample Off-Street Parking: Provides four dedicated parking spaces, a highly desirable amenity in Los Angeles that adds value and tenant convenience.
Cons
Tenant-Occupied Sale: The property is sold tenant-occupied, which may limit access for showings, restrict the buyer pool (e.g., owner-occupants), and potentially involve navigating existing tenant agreements.
Property Age & Potential Maintenance: Built in 1921, the property is over a century old, suggesting potential for ongoing maintenance needs or infrastructure updates in un-remodeled sections.
Limited Unit Square Footage: The total listed square footage of 1141 sqft for three units implies relatively compact living spaces, which could impact tenant desirability or rental rate potential compared to larger units.