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806 N Gage Avenue, Los Angeles, California 90063, Los Angeles, 90063 - bed, bath

806 N Gage Avenue, Los Angeles, California 90063 home-pic-0
ACTIVE$890,000
806 N Gage Avenue, Los Angeles, California 90063
0Bed
0Bath
2,721Sqft
3,986Lot
Year Built
1925
Close
-
List price
$890K
Original List price
$1.1M
Price/Sqft
$327
HOA
-
Days on market
-
Sold On
-
MLS number
DW24245025
Home ConditionFair
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $890.0K(76th), sqft - 2721(84th), beds - undefined(50th), baths - undefined(50th).

This unique property features a total of four income-generating units on Gage Avenue, along with a detached single-family residence (SFR) accessible from Folsom Street. The Gage Avenue building includes three 1-bedroom units and one 2-bedroom unit, while the Folsom SFR is a spacious 2-bedroom home. All units are currently tenant-occupied (refer to rent roll for details), offering immediate rental income. The property is well-maintained and competitively priced, with motivated sellers open to negotiations with serious buyers. Please respect tenant privacy—do not disturb residents. Refer to the showing instructions for viewing details. Don't miss this excellent investment opportunity!

Price History

Date
Event
Price
09/30/14
Sold
$310,000
Condition Rating
Fair
The property was built in 1925, making it very old. While some interior updates are visible, such as newer kitchen cabinets and countertops, and some laminate flooring, these do not constitute a full, extensive renovation. The presence of wall-mounted heaters, basic light fixtures, and the overall dated exterior suggest that many major systems and finishes are older and show signs of being outdated. The property is described as 'well-maintained' and is tenant-occupied, indicating functionality, but the age and visible components align with a property that is aged but maintained through regular upkeep and occasional updates, rather than a comprehensive modern renovation.
Pros & Cons

Pros

Immediate Rental Income: All five units (three 1-bedroom, one 2-bedroom, and a detached 2-bedroom SFR) are currently tenant-occupied, providing immediate and consistent rental income for the buyer.
Multi-Unit Investment: The property offers a diverse portfolio of five income-generating units, including a detached single-family residence, appealing to investors seeking diversified rental streams.
Significant Price Reduction: The list price has been reduced by $210,000 from its original $1.1 million, indicating motivated sellers and a potentially competitive acquisition price for buyers.
Well-Maintained Property: The property is explicitly stated as 'well-maintained,' suggesting reduced immediate capital expenditures for repairs or upgrades upon acquisition.
Versatile Configuration: The inclusion of a detached single-family residence (SFR) alongside the multi-unit building offers flexibility, potentially allowing for owner-occupancy with rental income or higher-value rental opportunities.

Cons

Age of Property & Potential for Deferred Maintenance: Built in 1925, the property's age suggests potential for aging infrastructure (plumbing, electrical, roof) that may require significant future maintenance or upgrades, despite being currently 'well-maintained'.
Tenant Occupancy & Showing Restrictions: All units are tenant-occupied, and buyers are instructed not to disturb residents, which can complicate showings, thorough inspections, and due diligence processes. The buyer also inherits existing lease agreements.
Limited Financial Transparency: While a rent roll is mentioned, detailed financial information such as current rents per unit, operating expenses, and lease terms are not provided in the description, making it challenging to quickly assess the property's true cash flow and ROI.

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