1024 N Gage Avenue, Los Angeles, California 90063, Los Angeles, 90063 - 4 bed, 1 bath
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1024 N Gage Avenue
Los Angeles, California 90063
ACTIVE
CONDITION: TEAR DOWN
4Beds
1Baths
1,412Sq Ft
17,372Lot Size
Property Price
LIST PRICE$1,300,000
SUMMARY
Analysis of 1024 N Gage Avenue, Los Angeles, California 90063 is currently available with a list price of $1,300,000. The property maintains a Tear down Condition Rating (10/100), reflecting significant deferred maintenance. This property is best suited for experienced investors or developers prepared for substantial renovation work. Located in a high-demand neighborhood within the Los Angeles Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1924 and over 100 years old with no evidence of recent renovations. The listing is explicitly marketed as a development opportunity for its land value and R2 zoning, suggesting the existing structure is a candidate for demolition to make way for new construction.
PROSSTRENGTHS & OPPORTUNITIES
- High Available Lot Utilization
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 17372, living area = 1412.
- Significant Development Potential
The offering includes three contiguous parcels totaling 17,372 sq ft with R2 zoning, providing a rare opportunity to maximize density with multiple residences in a high-demand market.
- Strategic Location
Positioned near USC Keck Medical Center, Cal State LA, and Downtown Los Angeles, the property offers excellent appeal for future tenants and buyers seeking proximity to major employment hubs.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =17372, other record lot size in square feet = 8623.
- Extended Days on Market
With 97 days on the market and multiple price reductions, the property may face perceived stagnation or underlying development hurdles that have deterred previous buyers.
- Functional Obsolescence
The existing 1924 structure features an unfavorable 4-bedroom to 1-bathroom ratio, likely requiring a total teardown or significant capital expenditure to meet modern living standards.
About 1024 N Gage Avenue
Unlock a rare development opportunity in the heart of City Terrace Hills! Three contiguous parcels totaling 17,372 sq ft are now available, offering a prime canvas for builders and developers ready to maximize potential in a high-demand Northeast LA market. Zoned R2, this offering is ideally suited for those looking to capitalize on density, with the potential to construct two residences per lot (buyer to verify with the City). The combined footprint allows for flexible site planning—perfect for new construction duplexes, detached homes, or a small multi-unit development. Positioned near City Terrace Park and just minutes from USC Keck Medical Center, Cal State LA, Downtown LA, and major freeways, this location delivers both convenience and strong end-user appeal—supporting excellent resale and rental potential. Opportunities like this—multiple adjoining parcels with true development upside—are increasingly RARE in Los Angeles! Buyer to verify zoning, density, utilities, and all development requirements.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1924
- Lot Size
- 17,372 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 1 (1 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 1.0 | 2.0 |
| Square foot | 1,412 | 1,664.159 |
| Lot Size | 17,372 | 6,066.556 |
| Price | $1.30M | $1.35M |
| Price per sq ft | $921 | $806 |
| Built year | 1924 | 1939 |
| HOA | $0 | $278 |
| Days on market | 126 | 55 |
Pricing History
Listed for Sale
Aug 21, 2026
$1,300,000
$1,580,000
-18% Price Drop
Initial Listing
Price Change
Jul 28, 2026
$1,580,000
$1,650,000
-4% Price Drop
Initial Listing
Price Change
Jun 23, 2026
$1,650,000
$1,800,000
-8% Price Drop
Initial Listing
Price Change
May 6, 2026
$1,800,000
Initial Listing