2230 Gates St
Description
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 • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717
Property Details for 2230 Gates Street
Property Details for 2230 Gates Street
| Status | Closed |
|---|---|
| MLS # | CV24057869 |
| Days on Market | 41 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1895 |
| Lot Size | 0.20 AC / 8,631 SF |
| County | Los Angeles County |
Location
Sold By EXP REALTY, JENNY DUONG, DRE #02077432
Building Information for 2230 Gates Street
Payment Calculator
$5,677 per month
30 year fixed, 6.845% Interest
$5,213
$464
$0
Property Information for 2230 Gates Street
- Gross Income: $53,400
- Gross Scheduled Income: $53,400
- Vacancy Allowance: 1602
- Gross Operating Income: $51,798
- Net Operating Income: $26,769
- Gross Multiplier: 17.79
- Cap Rate: 2.82
- Financing: Cash
- Operating Expense: $25,029
- New Taxes Expense: $12,109
- Gardener Expense: $1,200
- Insurance Expense: $2,400
- Maintenance Expense: $2,600
- Other Expense: $1,000
- Other Expense Description: Reserves
- Trash Expense: $1,800
- Water Sewer Expense: $3,600
- Total Expenses: $25,029
- Tax Block: 4
- Tax Tract Number: 199800
- Tax Census Tract: 1998.02
- CFD/Mello-Roos Fee: $714
- Tax Lot: 12
- Community Features: Curbs, Sidewalks
- Laundry: Yes
- Laundry Features: Community
- Cooling: Wall/Window Unit(s)
- Heating Type: Wall
- Heating: Wall Furnace
- Entry Location: 1
- Pool Features: None
- Pool Description: None
- Pool: N/K
- Spa Features: None
- Lot Features: 2-5 Units/Acre
- Number Of Units: 4
- Land Lease: No
- Land Lease Type: Fee
- Levels: Two
- Water: Public
- Sewer: Public Sewer
- Water Source: Public
- Garage Spaces: 2
- Uncovered Spaces: 3
- Open Other Spaces Total: 3
- Parking Garage Spaces: 2
- Carport Spaces: 0
- Unit Type Units Total: 1
- Unit Type Beds Total: 1
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,500
- Unit Type Total Rent: $18,000
- Unit Type Pro Forma: 1500
- Unit Type Type: 1
- Unit Type Units Total: 1
- Unit Type Beds Total: 2
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $900
- Unit Type Total Rent: $10,800
- Unit Type Pro Forma: 2000
- Unit Type Type: 2
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $900
- Unit Type Total Rent: $10,800
- Unit Type Pro Forma: 2200
- Unit Type Type: 3
- Unit Type Units Total: 1
- Unit Type Beds Total: 3
- Unit Type Baths Total: 1
- Unit Type Furnished: Unfurnished
- Unit Type Garage Spaces: 0
- Unit Type Garage Attached: No
- Unit Type Actual Rent: $1,150
- Unit Type Total Rent: $13,800
- Unit Type Pro Forma: 2400
- Unit Type Type: 4
- Number Of Units Leased: 3
- Rent Controlled: Yes
- Number Of Buildings: 2
- Number Of Separate Electric Meters: 4
- Number Of Separate Gas Meters: 4
- Number Of Separate Water Meters: 1
Property History for 2230 Gates Street
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| May 17, 2024 | Sold CLAW #CV24057869MR | $995,000 | — |
| May 17, 2024 | Sold SDMLS #CV24057869 | $995,000 | — |
| May 17, 2024 | Sold CRMLS #CV24057869 | $995,000 | — |
| May 6, 2024 | Sold (Public Record) Public Record #1532244543 | $995,000 | — |
| May 3, 2024 | Pending CRMLS #CV24057869 | — | |
| May 2, 2024 | Pending SDMLS #CV24057869 | — | |
| May 2, 2024 | Pending CLAW #CV24057869MR | — | |
| Mar 22, 2024 | Listed (Active) SDMLS #CV24057869 | $950,000 | — |
| Mar 22, 2024 | Listed (Active) CRMLS #CV24057869 | $950,000 | — |
| Mar 22, 2024 | Listed (Active) CLAW #CV24057869MR | $950,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 05/17/2024 | Sold CLAW #CV24057869MR | $995,000 |
| 05/17/2024 | Sold SDMLS #CV24057869 | $995,000 |
| 05/17/2024 | Sold CRMLS #CV24057869 | $995,000 |
| 05/06/2024 | Sold (Public Record) Public Record #1532244543 | $995,000 |
| 05/03/2024 | Pending CRMLS #CV24057869 | — |
| 05/02/2024 | Pending SDMLS #CV24057869 | — |
| 05/02/2024 | Pending CLAW #CV24057869MR | — |
| 03/22/2024 | Listed (Active) SDMLS #CV24057869 | $950,000 |
| 03/22/2024 | Listed (Active) CRMLS #CV24057869 | $950,000 |
| 03/22/2024 | Listed (Active) CLAW #CV24057869MR | $950,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 2230 Gates Street
Schools near 2230 Gates Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 5 | |||
| Charter - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Gates Street Elementary School PublicK to 5 | ||
Excel Charter Academy Charter6 to 8 | ||
Abraham Lincoln Senior High School Public9 to 12 | ||
Woodrow Wilson Senior High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184
Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.