2230 Gates Street
Los Angeles, CA, 90031 $ 950,000
Bedrooms9 Baths4.0 Sq 4,114 Monthly Estimate*
$ 6,636
Listed by CB RICHARD ELLIS
for $950,000 with 9 bedrooms and 4 full baths. This 4,114 square foot home was built in 1895 on a lot size of 0.1981.
We are pleased to present the opportunity to acquire a fourplex property located at 2230-2232 Gates Street in the Lincoln Heights area of Los Angeles. The property building size totals ±4,114 SF and is situated on a well-maintained ±8,631 square foot lot. 2230-2232 Gates Street is conveniently located minutes away from the 5, 110, and 10 freeways and its cross streets are Manitou Avenue and Baldwin Street. The fourplex is within walking distance to the historic Lincoln Park Recreation Center and offers convenient access to the Metro Lincoln Heights Cypress light rail station, USC Keck School of Medicine, shopping centers, restaurants, and other popular retailers all within a short distance. 2230-2232 Gates Street features low-maintenance mature landscaping. The property has surface vehicle parking and ample street parking. Units feature kitchens with appliances, wall-to-wall carpeting, vertical blinds, wall air conditioning and heating, security screen doors, window guards, and private patios or porches. Neighboring cities include Echo Park, Monterey Park, Alhambra, Silver Lake, East Los Angeles and Highland Park. Significant local landmarks within a 20-mile radius include: Downtown Los Angeles, Crypto.com Arena, LA Live, Griffith Observatory, Universal Studios Hollywood, Rose Bowl Stadium, Hollywood Bowl and the Huntington Library, Art Museum, and Botanical Gardens to name a few. First time on the market in 40 years, 2230-2232 Gates Street is an admirable Los Angeles income-producing property and a great long-term investment. The property offers stability for any type of investor whether it may be a first-time purchaser, seasoned investor, or those seeking a 1031 exchange opportunity
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FeaturesGeneralSewer PublicSewer
Heating WallFurnace
Cooling WallWindowUnits
Zoning LARD3
HOA 0.0
Garage Spaces 2.0
Pool Features None
Year Built 1895
Stories 2
Levels Two
Property SubType Quadruplex
Gross Income 53400.0
Community Features Curbs Sidewalks
County Los Angeles
Net Operating Income 26769.0
Operating Expense 25029.0
Insurance Expense 2400.0
New Construction N
Property Type ResidentialIncome
HOA / Comm Assn N
Attached Garage N
Garage Y/N Y
Special Listing Conditions Standard
Status Active
Directions Merge onto I-10 W Exit Soto St Continue onto Charlotte St Turn right onto Cornwell St Continue onto Zonal Ave Turn right onto N Mission Rd Sharp left onto N Main St Turn right onto Gates St
City Los Angeles
Entry Location 1
View Y/N N
Senior Community Y/N N
Open Parking Spaces 3.0
Total Units 4
MLS Area 677 - Lincoln Hts
Lot Size Square Feet 8631.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Number of Units Leased 3
Street Name Gates
Listing Terms Cash CashtoNewLoan
Spa Features None
Property Attached Y/N Y
Land Lease Y/N N
Home Warranty Y/N N
Trash Expense 1800.0
Water Sewer Expense 3600.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N Y
Days on Market 1
Building Area Units SquareFeet
Standard Status Active
Year Built Source Assessor
Tax Lot 12
Total Actual Rent 53400.0
Property Sub Type Additional Quadruplex
Taxes 12109.0
Cap Rate 2.82
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ExteriorLot Features Item25UnitsAcre
Water Source Public
Total Parking 5.0
Lot Size Area 8631.0
Number of Buildings 2
Spa N
Building Area Total 4114.0
Lot Size Acres 0.1981
Lot Size Units SquareFeet
Lot Size Source Assessor
Number of Separate Water Meters 1
Number of Separate Gas Meters 4
Number of Separate Electric Meters 4
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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InteriorTotal Stories 2
Common Walls Item1CommonWall
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Street Suffix Street
Laundry Features CommonArea
Entry Level 1
Electric On Property Y/N N
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* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $6,636
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $2,000,821
Percent of Sale Price 111%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
3/22/2024 | $950,000 | | Listed Price |