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311 W Gage Ave Los Angeles, CA 90003

$705,000 Sold Price as of 08/22/2023

5 Beds
3 Baths
1,728 Sq.Ft.

Sold

$705,000 Sold Price as of 08/22/2023 Refinance Your Mortgage

Map preview of 311 W Gage Ave, Los Angeles, CA 90003

Property Overview: 311 W Gage Ave Los Angeles, CA has 5 bedrooms, 3 bathrooms, 1,728 living square feet and 4,740 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Great opportunity to acquire this duplex with plenty of upsides. This property has 2 units, excellent for an investor or someone looking for a property with income potential. The front unit has 3 bedrooms / 2 bathrooms, and the back detached unit has 2 bedrooms / 1 bathroom, which will be delivered vacant. A one-car garage for each unit with a shared driveway. Conveniently located near the 110 freeway, downtown LA, USC, Science Center, Exposition Park, shops, and much more. Drive-by only, showings only with an accepted offer. More pictures to come.

Listed by Ivan Perez | BRE #01952891 | Movoto, Inc.

Last checked: 5 minutes ago | Last updated: August 26th, 2023 | Source CRMLS | DOM: 146

Home details

Lot Sq. Ft: 4,740
HOA Dues: $0/mo
Year built: 1918
Garage: --
Property Type:: Multi Family

Status: Sold
MLS#: 23238129
City: Los Angeles
County: Los Angeles
Time on Site: 445 days

Multi-Family Unit Breakdown

Unit Mix Summary

Total # of Units: 2
Total # of Buildings: 2

Unit Breakdown 1

# of Units: 1
# of Beds: 3
# of Baths: 2
Furnishing: Unfurnished
Actual Rent: $2,100
Total Rent: $2,100
Pro Forma/Market Rent: $2,800

Unit Breakdown 2

# of Units: 1
# of Beds: 2
# of Baths: 1
Furnishing: Unfurnished
Total Rent: $0
Pro Forma/Market Rent: $2,000

Multi-Family Income/Expense Information

Property Income and Analysis

Cap Rate: 6.23%
Gross Rent Multiplier: 11.82
Gross Scheduled Income: --
Net Operating Income: $43,307
Gross Operating Income: $58,800

Annual Expense Breakdown

Total Operating Expense: --

Property Details for 311 W Gage Ave

Interior Features

Cooling Information

No Cooling
None

Heating Information

No Heating
None

Lot Details / Garage and Parking

Parking/Garage Information

Has Parking
Parking Features: Driveway, Garage - Two Door

Property Information

Common Walls: No Common Walls
Total # of Units: 2
Parcel Number: 6005003037

Homeowners Association, Utilities, Taxes / Assessments

Homeowners Association

Is Not Part of Association

Location / Neighborhood

Location Information

Directions: Left off the 110 FWY on Gage Ave, right before S Broadway.

View more facts & features

Local Los Angeles Agent

Sale History for 311 W Gage Ave

Last sold for $705,000 on August 22nd, 2023

August, 2023
Aug 22, 2023

Date

Sold

CRMLS: 23238129

$705,000

Price
Feb 2, 2023

Date

Active

CRMLS: 23238129

$695,000

Price
November, 2022
Nov 21, 2022

Date

Expired

CRMLS: SR22093282

$719,000

Price
May 5, 2022

Date

Active

CRMLS: SR22093282

$719,000

Price
Listing provided courtesy of CRMLS

Great location! Lovely Duplex~ First unit features 3Bed/2Bath. Second unit features 2Bed/1Bath. Beautiful kitchen with granite countertops, hardwood flooring in living room and kitchen, tile flooring in bathrooms. There is a two car detached garage in the courtyard and the property has space for a total of four parking spaces. This is an excellent income generating investment.

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May, 2015
May 6, 2015

Date

Sold (Public Records)

Public Records

$399,000

Price
July, 2014
Jul 18, 2014

Date

Sold (Public Records)

Public Records

$265,000

Price

Tax History for 311 W Gage Ave

Assessed Value (2020): $438,472

Year	Land Value	Improved Value	Assessed Value
2020	$285,722	$152,750	$438,472

Home Value Compared to the Market

This property vs the competition

311 W Gage Ave sold on August 22, 2023 for 33.81% lower than the current median sold price for the city of Los Angeles which is $1,050,000. The median sold price per/sqft for Los Angeles is $738 and this home is sold at $402.2 per/sqft which puts the price per square foot 45.5% lower than the current median sale per square foot for the city of Los Angeles.

About 311 W Gage Ave

Detailed summary of property

311 W Gage Ave is a multi family that recently sold in Los Angeles, CA 90003. This multi family property offered 5 bedrooms, 3 bathrooms, roughly 1,728 living square feet, and sits on an approximately 4,740 square foot lot. 311 W Gage Ave was first listed on ArdentRealEstateGroup.com on February 3, 2023. The homeowner sold the property for $705,000. Home in Los Angeles are selling for a median price of $1,050,000 and a median price per square foot of $738. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 33.81% lower than the current median priced home. Local homes that are currently for sale include 6903 Estrella Ave, 820-822 W 61st St and 827 W 65th St. While the average home in Los Angeles, CA is selling in 96 days, 311 W Gage Ave has a days on market of 146 days. There are currently 3431 homes for sale in the Los Angeles real estate market and 2328 of them are single family homes while 1008 of them are condos and 90 are townhomes. For more information on this home for sale at 311 W Gage Ave Los Angeles, CA 90003 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 311 W Gage Ave

Public county record property details

Beds: 5
Baths: 3
Year built: 1918
Sq. Ft.: 1,728
Lot Size: 4,739
Stories: --

Type: Duplex (2 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 84
APN: 6005-003-037

The source for these homes facts are from public records.

90003 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends

Median List Price

$575,000

Median List Price/Sq.Ft.

$580

Median Sold Price

$570,000

Median Sold Price/Sq.Ft.

$505

Total Inventory

Median Sale to List Price %

99.13%

Avg Days on Market

Loan Type

Conventional (37.5%), FHA (25%), VA (0%), Cash (0%), Other (25%)

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(714) 706-1823

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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.