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927 W Gage Ave, Los Angeles, CA 90044
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927 W Gage Ave Los Angeles, CA 90044

$995,000
  • 8 Beds
  • 4 Baths
  • 3,201 Sq.Ft.
For Sale
$995,000 Get Pre-Qualified
Map preview of 927 W Gage Ave, Los Angeles, CA 90044

Property Overview: 927 W Gage Ave Los Angeles, CA has 8 bedrooms, 4 bathrooms, 3,201 living square feet and 6,116 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 a four-unit property, with one unit currently vacant and available for immediate occupancy upon the close of escrow. This vacant unit, along with an additional unit, has been extensively renovated, featuring modern design elements and high-quality finishes. The property comprises four spacious 2-bedroom, 1-bathroom units, all located on the ground floor. According to public records, the building encompasses 3,200 square feet and is situated on a lot exceeding 6,100 square feet. The available unit has been significantly upgraded, including the installation of mini-split systems, a new kitchen with contemporary cabinets and countertops, a renovated bathroom, and updated plumbing. Conveniently located on Gage Avenue, the property is less than half a mile from the 110 Freeway, situated between Hoover and Vermont. The surrounding area includes a mix of single-family residences and apartment buildings. The remaining three units generate a total rental income of over $4,900 per month, providing a substantial contribution towards the purchase and living expenses for potential buyers.

Listed by Krikor Garabedian | BRE #01216376 | Keller Williams R. E. Services
Last checked: 15 minutes ago | Last updated: August 27th, 2024 | Source CRMLS | DOM: 37

Home details

Lot Sq. Ft
6,116
HOA Dues
$0/mo
Year built
1957
Garage
--
Property Type:
Fourplex
Status
Active
MLS#
GD24155978
City
Los Angeles
County
Los Angeles
Time on Site
51 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
  • # of Leased Units: 3
  • # of Electric Meters: 4
  • # of Gas Meters: 4
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $972
  • Total Rent: --
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $1,866
  • Total Rent: --
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Actual Rent: $2,080
  • Total Rent: --
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Total Rent: --
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6%
  • Gross Rent Multiplier: 11.17
  • Gross Scheduled Income: $89,037
  • Net Operating Income: $59,964
  • Gross Operating Income: $87,257
  • Vacancy Allowance: $1,781
Annual Expense Breakdown
  • Total Operating Expense: $27,292
  • Electric: $3,533
  • Gas/Fuel: $0
  • Licenses: $427
  • Trash: $0
  • Insurance: $2,420
  • Maintenance: $3,536
  • Water/Sewer: $3,533

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Property Details for 927 W Gage Ave

Interior Features
Cooling Information
  • Has Cooling
  • Ductless
Laundry Information
  • No Laundry
  • None
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Levels: One
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: Rectangular Lot, Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 4
  • Parcel Number: 6004015015
  • Year Built Source: Public Records
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
Location / Neighborhood
Location Information
  • Directions: East of the 110 on Gage Ave between Vermont and Hoover.
Neighborhood Information
  • Community Features: Urban
View more facts & features

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Sale History for 927 W Gage Ave

Last sold for $750,000 on July 17th, 2020

  • August, 2024

  • Aug 12, 2024

    Date

    Active

    CRMLS: GD24155978

    $1,050,000

    Price

  • February, 2024

  • Feb 1, 2024

    Date

    Expired

    CRMLS: 23237787

    $975,000

    Price

  • Feb 1, 2023

    Date

    Active

    CRMLS: 23237787

    $989,000

    Price

  • Listing provided courtesy of CRMLS

    927 W Gage Ave, Los Angeles, CA 90044, a four unit property located in South Los Angeles. This opportunity has upside, with great income already coming in. This property gives the new owner the opportunity to renovate 3 units to achieve market rents. It is easily accessible from the 110 freeway, offering tenants access to Los Angeles'. One unit has been update as you can see from the pictures. The seller has made upgrades to the property and this a low maintenance property.

  • August, 2022

  • Aug 10, 2022

    Date

    Canceled

    CRMLS: PW22123204

    $1,195,000

    Price

  • Jun 8, 2022

    Date

    Active

    CRMLS: PW22123204

    $1,195,000

    Price

  • Listing provided courtesy of CRMLS

    This offering presents a great opportunity for an investor to acquire a partially renovated asset with a desirable unit mix, strong rental location, and 45 percent potential upside in rents. 927 West Gage Avenue is a single-story 1957 construction with four two-bedroom/one-bath units that average 800 square feet. The units are separately metered for gas and electricity, and there is one surface parking space for each unit. Furthermore, the property boasts a brand new roof, new exterior paint, and one unit has been completely renovated with new flooring, an updated kitchen and an updated bathroom. The property is located in the dense rental submarket of South LA just minutes west of the 110 Freeway near Vermont Avenue. From this location, tenants have easy access to Expo Park, the LA Coliseum, Banc of California Stadium, and Downtown LA (all within 10 minutes of the property) as well as SoFi Stadium and the Kia Forum (within 15 minutes).

  • July, 2020

  • Jul 17, 2020

    Date

    Sold (Public Records)

    Public Records

    $750,000

    Price

  • May, 2020

  • May 23, 2020

    Date

    Expired

    CRMLS: 20564554

    $775,000

    Price

  • Mar 17, 2020

    Date

    Active

    CRMLS: 20564554

    $775,000

    Price

  • Listing provided courtesy of CRMLS

    AVAILABLE TO PURCHASE INDIVIDUALLY OR AS PORTFOLIO.We proudly present 927 W Gage Ave, Los Angeles, CA 90044, a four unit property located in South Los Angeles. This opportunity has significant upside, giving the new owner the opportunity to renovate units to achieve market rents. It is easily accessible from the 110 freeway, offering tenants access to Los Angeles' major employment hubs.

  • March, 2020

  • Mar 17, 2020

    Date

    Canceled

    CRMLS: 20563842

    $1,610,000

    Price

  • Mar 13, 2020

    Date

    Active

    CRMLS: 20563842

    $1,610,000

    Price

  • Listing provided courtesy of CRMLS

    927 W Gage Ave, Los Angeles, CA 90044 & 9301 S Western Ave, Los Angeles, CA 90047 - AVAILABLE TO PURCHASE INDIVIDUALLY OR AS PORTFOLIO. We proudly present 927 W Gage Ave, Los Angeles, CA 90044 & 9301 S Western Ave, Los Angeles, CA 90047, a multi-family portfolio located in South Los Angeles. Both properties offer significant upside, giving the new owner the opportunity to renovate units to achieve market rents. The properties are easily accessible from the 110 freeway, offering tenants access to Los Angeles' major employment hubs.

  • July, 2013

  • Jul 23, 2013

    Date

    Sold (Public Records)

    Public Records

    $687,000

    Price

Show More

Tax History for 927 W Gage Ave

Assessed Value (2020): $385,022
Year Land Value Improved Value Assessed Value
2020 $308,244 $76,778 $385,022

Home Value Compared to the Market

This property vs the competition

927 W Gage Ave is listed 17.08% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $310.84 per/sqft which puts the price per square foot 59.53% lower than the median price per square foot for the city of Los Angeles.

About 927 W Gage Ave

Detailed summary of property

927 W Gage Ave is a fourplex located in Los Angeles, CA 90044 and is currently for sale. This fourplex offers 8 bedrooms, 4 bathrooms, roughly 3,201 living square feet, and sits on an approximately 6,116 square foot lot. 927 W Gage Ave was first listed on ArdentRealEstateGroup.com on July 30, 2024. The homeowner is currently asking $995,000 and was originally asking $1,050,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 17.08% lower than the median priced home. Local competing homes currently for sale include 1036 W 55th St, 601 W 74th St and 916 W 53rd W St. While the average home in Los Angeles, CA is selling in 106 days, 927 W Gage Ave has a days on market of 37 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 927 W Gage Ave Los Angeles, CA 90044 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 927 W Gage Ave

Public county record property details
Beds
8
Baths
4
Year built
1957
Sq. Ft.
3,201
Lot Size
6,113
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
16,17
APN
6004-015-015

The source for these homes facts are from public records.

90044 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$650,000
Median List Price/Sq.Ft.
$513
Median Sold Price
$717,000
Median Sold Price/Sq.Ft.
$513
Total Inventory
87
Median Sale to List Price %
102.58%
Avg Days on Market
27
Loan Type
Conventional (38.1%), FHA (23.81%), VA (0%), Cash (9.52%), Other (9.52%)

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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.

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