232 E Gage, Los Angeles, California 90003, Los Angeles, 90003 - 0 bed, 0 bath
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232 E Gage
Los Angeles, California 90003
ACTIVE
CONDITION: EXCELLENT
0Beds
0Baths
5,218Sq Ft
4,936Lot Size
Property Price
LIST PRICE$1,695,000
SUMMARY
2023 new-construction triplex in South Los Angeles, offered at $1,695,000 and 100% leased. The property consists of a front three-story duplex and a detached two-story ADU totaling 5,218 SF on a gated R2 lot. Units A and B are each 5 bed / 4.5 bath with an en-suite bath for every bedroom, private balconies and in-unit laundry. The rear ADU is a 3 bed / 2 bath with an attached 2-car garage. Green Certified construction with central HVAC, tankless water heaters, fire sprinklers, quartz counters and stainless appliances. Separately metered; tenants pay all utilities. Block walls, electric vehicle gate and 4 parking spaces. Strong in-place income with significant upside to market rents. Not subject to LA rent control (RSO), and exempt from the AB 1482 rent cap until approximately 2038. Attached garage is a candidate for a fourth unit under California ADU law (buyer to verify). Minutes from the 110 Freeway, USC, Exposition Park and Downtown LA. Ideal for a 1031 exchange, cash investor or owner-user.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
2023 new construction in mint condition. Features modern quartz countertops, stainless steel appliances, and contemporary bathroom tiling. Systems are brand new, including central HVAC, tankless water heaters, and fire sprinklers.
PROSSTRENGTHS & OPPORTUNITIES
- Modern High-Yield Construction
Built in 2023, this Green Certified triplex features high-end finishes and a rare 5-bedroom layout where every bedroom includes an en-suite bathroom, significantly maximizing rental appeal and tenant retention.
- Favorable Regulatory Status
The property is exempt from the Los Angeles Rent Stabilization Ordinance (RSO) and the AB 1482 rent cap until 2038, providing investors with rare flexibility in rent adjustments and long-term management.
- Value-Add Potential
Beyond the current 100% occupancy, the attached garage is a candidate for conversion into a fourth unit under California ADU law, offering a clear path to increase the property's density and cash flow.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 5218, other record living area = 1404.
- Parking Constraints
With a total of 13 bedrooms across three units, the provision of only four parking spaces is significantly low and may create challenges for tenants in a high-density neighborhood.
- High Lot Coverage
The 5,218 SF building footprint occupies nearly the entire 4,936 SF lot, resulting in minimal common areas or private outdoor green space for residents.
About 232 E Gage
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 2023
- Lot Size
- 4,936 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
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 | 0.0 | 4.5 |
| Baths | 0.0 | 2.9 |
| Square foot | 5,218 | 2,090.331 |
| Lot Size | 4,936 | 5,852.908 |
| Price | $1.70M | $830.9K |
| Price per sq ft | $325 | $394 |
| Built year | 2023 | 1928 |
| HOA | $0 | $0 |
| Days on market | 4 | 87 |
Pricing History
Listed for Sale
Nov 5, 2026
$1,695,000
Initial Listing
Sold
May 24, 2024
$1,500,000
Public Record
Sold
Jun 10, 2022
$470,000
Public Record