KW Commercial is pleased to present 531 W Gage Ave in Los Angeles. The property features a duplex with one bedroom one bath units and a detached two bedroom one bath home. Each unit has it's own water heater and is separately metered for gas and electricity. The property was built in 1929 and as such is subject to rent control. The triplex is 100% occupied and all 3 units have been served rental increases bringing the monthly income to over $2,700 effective June 1st. A new owner will benefit from a strong cash on cash return along with considerable upside in the rents.The property has been well maintained. There is some copper plumbing and there have been updates to the electrical system. The roof is in good condition and the storage spaces/parking stalls were rebuilt approximately 10 years ago.The sale will also include the adjacent vacant 1,300 SF lot zoned R2. It may be possible to add an additional unit to the site (verify with city).The property is located in close proximity to Downtown L.A., schools, freeways and public transportation. This is a great opportunity as a first time investment or for the seasoned owner.*Buyer to verify all information*
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
