2202 Gates Street, Los Angeles, California 90031, Los Angeles, 90031 - 1 bed, 1 bath
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Los Angeles, California 90031
This Value-Add Residential Asset is listed at $625,000, reflecting the high-demand nature of the Lincoln Heights market relative to its $573,203 Fair Market Value. Held by the same owner for over 60 years, the property maintains a Condition Rating of 4, requiring systemic modernization and aesthetic updates to reach its full potential. The home features a flexible layout with a private entrance via the carport, offering significant utility for a home office or rental. Located steps from Gates Street Elementary and Keck Medical Center, this is a strategic acquisition for Value-Add Investors or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2202 Gates Street Subject | $625,000* List Price | 1 | 1 | 858 | $668 | - |
A 2010 Workman Street Sold | $640,000 | 2 | 1 | 918 | $697 | 0.5 mi |
B 215 S Avenue 19 Pending | $555,000 List Price | 2 | 1 | 787 | $705 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1903 and on the market for the first time in 60 years, the home shows signs of basic maintenance but requires modernization. While it features newer laminate flooring and a refreshed bathroom vanity, the kitchen is outdated with older white appliances and simple cabinetry. The presence of popcorn ceilings and aged exterior concrete indicates that while the property is functional and livable, it needs aesthetic and likely systemic updates to meet contemporary standards.
The property is ideally situated with convenient access to Downtown Los Angeles, Dodger Stadium, and Keck Medical Center, making it highly attractive for commuters and medical professionals.
One bedroom features a private entrance via the carport, offering unique versatility for use as a home office, guest suite, or potential rental opportunity.
Located within a very short walking distance to both Gates Street Elementary and Abraham Lincoln Senior High, providing significant convenience for families with school-aged children.
Built in 1903 and held by the same owner for over 60 years, the home likely requires substantial modernization and updates to meet current building codes and contemporary standards.
With only 858 square feet of living space on a compact 2,753 square foot lot, the property offers limited room for expansion or large-scale outdoor entertaining.
This charming corner home, on the market for the first time in over 60 years, is an ideal opportunity for a first-time home buyer. It features 2 bedrooms and 1 bathroom, along with a nice-sized yard. One of the bedrooms offers a private entrance accessible via the carport, providing flexibility. Located in an established neighborhood, you'll find everything you need within easy reach, from eateries to nightlife. For those who enjoy exploring, the home offers convenient access to DTLA, Dodger Stadium, and Keck Medical Center. Don't miss this chance to secure your own slice of this vibrant city!
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.3 mi
Grades K-5 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 1.0 | 3.0 | 4% |
| Baths | 1.0 | 2.0 | 23% |
| Square foot | 858 | 1,335 | 12% |
| Lot Size | 2,753 | 4,940.5 | 4% |
| Price | $625.0K | $932.0K | 8% |
| Price per sq ft | $728 | $719 | 50% |
| Built year | 1903 | 1926 | 15% |
| HOA | $0 | $0 | 50% |
| Days on market | 335 | 168 | 96% |
Sep 27, 2025
$625,000
Initial Listing
May 22, 2025
$650,000
Initial Listing