1000 S Gage, East Los Angeles, California 90023, East Los Angeles, 90023 - 6 bed, 3 bath
ACTIVE$814,999
1000 S Gage, East Los Angeles, California 90023
6Beds
3Baths
2,054Sqft
6,300Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Excellent Income Potential: The property is a multi-unit triplex with an additional studio, effectively offering four separate units for diversified rental income streams, ideal for investors or owner-occupants.
Top Cons:
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 5.
Compared to the nearby listings
Price:$815.0K vs avg $655.0K (+$159,999)77%
Size:2,054 sqft vs avg 1,702 sqft62%
Price/sqft:$397 vs avg $39750%
More Insights
Built in 1924 (101 years old).
Condition: Built in 1924, this property is aged but appears to be well-maintained, as stated in the description. However, the images reveal kitchens and bathrooms with very dated cabinets, laminate countertops, older white appliances, and basic fixtures, suggesting they were last updated 15-30 years ago or have seen minimal modernization since construction. While functional and clean, these areas require significant aesthetic and functional updates to meet current standards. The overall condition is livable but shows clear signs of being outdated, aligning with the 'Fair' category.
Year Built
1924
Close
-
List price
$815K
Original List price
$815K
Price/Sqft
$397
HOA
-
Days on market
-
Sold On
-
MLS number
CV25240756
Home ConditionFair
Features
Patio
View-
About this home
Beautiful East Los Angeles triplex offering excellent income potential! This well-maintained multi unit property features a studio that acts as an additional fourth unit. Each unit is separate and no sharing walls. Located near schools, parks, and major freeways; 5 Fwy, 710 Fwy, 60 Fwy. It's perfect for investors or owner-occupants seeking additional rental income. Enjoy the vibrant Eastside community known for its rich culture, authentic food scene, and quick commute to Downtown LA. (Front) 1000: 2 bed, 1 bath / (middle) 1000 1/2 : 3 bed, 1 bath / (back) 1002: 1 bed, 1 bath / Garage.
Price History
Date
Event
Price
05/14/99
Sold
$205,000
Condition Rating
Fair
Built in 1924, this property is aged but appears to be well-maintained, as stated in the description. However, the images reveal kitchens and bathrooms with very dated cabinets, laminate countertops, older white appliances, and basic fixtures, suggesting they were last updated 15-30 years ago or have seen minimal modernization since construction. While functional and clean, these areas require significant aesthetic and functional updates to meet current standards. The overall condition is livable but shows clear signs of being outdated, aligning with the 'Fair' category.
Pros & Cons
Pros
Excellent Income Potential: The property is a multi-unit triplex with an additional studio, effectively offering four separate units for diversified rental income streams, ideal for investors or owner-occupants.
Strategic Location: Situated in a vibrant East Los Angeles community, the property offers convenient access to major freeways (5, 710, 60), schools, parks, and a quick commute to Downtown LA, enhancing tenant appeal.
Owner-Occupant Opportunity: The property is explicitly marketed as suitable for owner-occupants seeking additional rental income, broadening the potential buyer pool and offering a path to offset living costs.
Separate Units with Privacy: Each of the four units is separate with no shared walls, providing enhanced privacy and appeal for tenants, which can lead to higher tenant satisfaction and retention.
Well-Maintained Condition: Described as a 'well-maintained' property, suggesting a lower immediate capital expenditure for a new owner and indicating good upkeep over time.
Cons
MLS Listing Discrepancy: Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 5.
Age of Property: Built in 1924, the property is nearly a century old, which may imply potential for outdated systems (plumbing, electrical) and higher long-term maintenance costs despite being 'well-maintained'.
Potential Unpermitted Unit: While listed as a 'Triplex,' the description mentions a 'studio that acts as an additional fourth unit,' which could indicate an unpermitted unit, posing legal and financial risks for a buyer.
Low Bathroom Count per Unit: The larger units (2-bed and 3-bed) each only have one bathroom, which can be a significant drawback for families or multiple tenants, potentially affecting rental desirability and market value.