318 W Gage Avenue, Los Angeles, California 90003, Los Angeles, 90003 - 3 bed, 1 bath
ACTIVE$498,000
318 W Gage Avenue, Los Angeles, California 90003
3Beds
1Bath
1,090Sqft
5,573Lot
Price Vs. Estimate
The estimated value ($489,253.22) is $8,746.78 (1%) lower than the list price ($498,000). This property may be overpriced.
Key pros and cons
Top Pros:
Investment Opportunity: The property is marketed towards investors, suggesting potential for high returns through renovation or rental income.
Top Cons:
Cash Offers Only: The requirement for cash offers limits the pool of potential buyers.
Compared to the nearby listings
Price:$498.0K vs avg $593.0K ($-95,000)29%
Size:1,090 sqft vs avg 1,096 sqft49%
Price/sqft:$457 vs avg $50429%
More Insights
Built in 1910 (115 years old).
Condition: The property was built in 1910 and the images show significant deferred maintenance. The exterior appears worn, and the listing description mentions 'calling all investors' and 'cash offers only', suggesting it needs substantial work. The kitchen and bathroom conditions are not visible, but given the age and overall state, they likely require significant updates.
Year Built
1910
Close
-
List price
$498K
Original List price
$498K
Price/Sqft
$457
HOA
-
Days on market
-
Sold On
-
MLS number
IG25160959
Home ConditionPoor
Features
ViewNeighborhood
About this home
Calling all investors! Opportunity awaits, 3 bedroom 1 bath home situated in a desired area close to downtown LA, BMO Stadium, Lax In an LAR2. Aside from having an additional bedroom with its own bathroom and entrance it has an oversized 2 car garage that can be converted into another living space. If this is not enough the property can include the rear Lot 319 W 63RD PL, LOS ANGELES, CA 90003 1,618 sq foot for the right offer. Cash offers are only being considered.
Price History
Date
Event
Price
02/28/25
Sold
$390,000
06/24/04
Sold
$196,000
Condition Rating
Poor
The property was built in 1910 and the images show significant deferred maintenance. The exterior appears worn, and the listing description mentions 'calling all investors' and 'cash offers only', suggesting it needs substantial work. The kitchen and bathroom conditions are not visible, but given the age and overall state, they likely require significant updates.
Pros & Cons
Pros
Investment Opportunity: The property is marketed towards investors, suggesting potential for high returns through renovation or rental income.
Desirable Location: Located in a desired area close to downtown LA, BMO Stadium, and LAX, offering convenient access to amenities and transportation.
LAR2 Zoning: The LAR2 zoning allows for potential development or expansion opportunities.
Additional Bedroom with Separate Entrance: The presence of an additional bedroom with its own bathroom and entrance provides flexibility for rental income or multi-generational living.
Oversized Garage: The oversized 2-car garage offers potential for conversion into additional living space, increasing the property's value.
Cons
Cash Offers Only: The requirement for cash offers limits the pool of potential buyers.
Limited Bathrooms: Only one bathroom for a 3-bedroom house may be a drawback for some buyers.
Age and Condition: Built in 1910, the property likely requires significant renovations and updates.