2230 Gates St, Los Angeles, CA 90031
Image 2 for 2230 Gates St, Los Angeles, CA 90031
Image 3 for 2230 Gates St, Los Angeles, CA 90031
View Photos

2230 Gates St Los Angeles, CA 90031

$950,000
  • 9 Beds
  • 4 Baths
  • 4,114 Sq.Ft.
For Sale
$950,000 Get Pre-Qualified

Map preview of 2230 Gates St, Los Angeles, CA 90031

Property Overview: 2230 Gates St Los Angeles, CA has 9 bedrooms, 4 bathrooms, 4,114 living square feet and 8,631 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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

Listed by ERIC CHEN | BRE #01489184 | CB RICHARD ELLIS
Last checked: 15 minutes ago | Last updated: March 23rd, 2024 | Source CRMLS | DOM: 32
Get a $2,850 Cash Reward New

Buy this home with Ardent Real Estate Group and get $2,850 back.

Call/Text (714) 706-1823

Home details

Lot Sq. Ft
8,631
HOA Dues
$0/mo
Year built
1895
Garage
2 Car
Property Type:
Fourplex
Status
Active
MLS#
CV24057869
City
Los Angeles
County
Los Angeles
Time on Site
40 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
  • # of Leased Units: 3
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $18,000
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $900
  • Total Rent: $10,800
  • Pro Forma/Market Rent: $2,000
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $900
  • Total Rent: $10,800
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,150
  • Total Rent: $13,800
  • Pro Forma/Market Rent: $2,400
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 2.82%
  • Gross Rent Multiplier: 17.79
  • Gross Scheduled Income: $53,400
  • Net Operating Income: $26,769
  • Gross Operating Income: $51,798
  • Vacancy Allowance: $1,602
Annual Expense Breakdown
  • Total Operating Expense: $25,029
  • New Taxes: $12,109
  • Trash: $1,800
  • Gardener: $1,200
  • Insurance: $2,400
  • Maintenance: $2,600
  • Water/Sewer: $3,600
  • Other Expenses: $1,000
  • Other Expense Description: Reserves

Open Houses for 2230 Gates St

No upcoming open houses

Schedule Tour
Loading...

Property Details for 2230 Gates St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 2
  • # of Parking Spaces: 5
Lot Information
  • Lot Features: 2-5 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 4
  • Parcel Number: 5211001017
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • 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
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Los Angeles Agent

Loading...

Sale History for 2230 Gates St

Last sold on March 9th, 1994
  • March, 2024

  • Mar 22, 2024

    Date

    Active

    CRMLS: CV24057869

    $950,000

    Price

  • March, 1994

  • Mar 9, 1994

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2230 Gates St

Assessed Value (2020): $377,634
Year Land Value Improved Value Assessed Value
2020 $264,196 $113,438 $377,634

Home Value Compared to the Market

This property vs the competition

2230 Gates St is listed 22.45% lower than the median list price for the city of Los Angeles which has a median list price of $1,225,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $230.92 per/sqft which puts the price per square foot 70.17% lower than the median price per square foot for the city of Los Angeles.

About 2230 Gates St

Detailed summary of property

2230 Gates St is a fourplex located in Los Angeles, CA 90031 and is currently for sale. This fourplex offers 9 bedrooms, 4 bathrooms, roughly 4,114 living square feet, and sits on an approximately 8,631 square foot lot. 2230 Gates St was first listed on ArdentRealEstateGroup.com on March 22, 2024. The homeowner is currently asking $950,000. The median priced home in Los Angeles is $1,225,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 22.45% lower than the median priced home. Local competing homes currently for sale include 574 N St Louis St, 321 W Avenue 37 and 2814 Wabash Ave. While the average home in Los Angeles, CA is selling in 96 days, 2230 Gates St has a days on market of 32 days. There are currently 3485 homes for sale in the Los Angeles real estate market and 2372 of them are single family homes while 1013 of them are condos and 94 are townhomes. For more information on this home for sale at 2230 Gates St Los Angeles, CA 90031 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2230 Gates St

Public county record property details
Beds
9
Baths
4
Year built
1895
Sq. Ft.
4,114
Lot Size
8,631
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
12
APN
5211-001-017

The source for these homes facts are from public records.

90031 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$828,000
Median List Price/Sq.Ft.
$566
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$638
Total Inventory
35
Median Sale to List Price %
100%
Avg Days on Market
23
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (36.36%), Other (18.18%)

Tour This Home


Buy with Ardent Real Estate Group and save $2,850.

Image Description
Contact Jon
Los Angeles Agent

Call, Text or Message
Get a $2,850 Cash Reward New

Buy this home with Ardent Real Estate Group and get $2,850 back.

Call/Text (714) 706-1823

Related Resources to 2230 Gates St

Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.