Los Angeles, CA 90031 2230 Gates Street

Sold: May 17, 2024
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Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717
  • MLS# CV24057869
  • 03/22/2024
  • Request Tour
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  • FootageSQFT • 4,114
  • GarageGarage • 2

Home Details

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
Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717

General for 2230 Gates Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Buyer FinancingCash
Cap Rate2.82
Carport Y/NNo
CityLos Angeles
Close Price995000.0
Community FeaturesCurbs, Sidewalks
CoolingWallWindowUnits
CountyLos Angeles
Days on Market41
DirectionsMerge 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
Entry Location1
Garage Spaces2.0
Garage Y/NYes
Gross Income53400.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense2400.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet8631.0
MLS Area677 - Lincoln Hts
MaintenanceExpense2600.0
MobileHomeRemainsYNNo
Net Operating Income26769.0
New ConstructionNo
Number of Units Leased3
Open Parking Spaces3.0
Operating Expense25029.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalQuadruplex
Property SubTypeQuadruplex
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusClosed
StatusClosed
Stories2
Street NameGates
Tax Lot12
Taxes$12,109
Total Actual Rent53400.0
Total Units4
Trash Expense1800.0
View Y/NNo
Water Sewer Expense3600.0
Waterfront Y/NNo
Year Built1895
Year Built SourceAssessor
ZoningLARD3

Interior for 2230 Gates Street

Air Conditioning Y/NYes
Basement (Y/N)No
BuyerOfficeEmailca.broker@exprealty.net
Common WallsItem1CommonWall
Electric On Property Y/NNo
Entry Level1
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixStreet
Total Stories2

Exterior for 2230 Gates Street

Building Area Total4114.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem25UnitsAcre
Lot Size Acres0.1981
Lot Size Area8631.0
Lot Size SourceAssessor
Lot Size UnitsSquareFeet
Number of Buildings2
Number of Separate Electric Meters4
Number of Separate Gas Meters4
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking5.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $950,000
MLS#CV24057869
List Date 03/22/2024
Property Type Multi-Family
Phone 714.964.3311
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