460 Gage AveLos Angeles, CA 90063

Property Details for 460 Gage Ave

Year built

1929

Construction

WOOD

Lot size

0.08 AC

Property size (Sq ft)

3,576 SF

Zone code

LCC2*

Property type

Retail space

APN

5233-001-014

APU

5233001014

Description

This multi-tenant retail storefront at 460 N Gage Ave, Los Angeles, CA 90063, offers a compelling value-add opportunity. The 3,576 square foot property, built in 1929 and renovated in 2018, sits on a 0.09-acre lot and is currently 66% occupied across three units with short-term leases. The asking price is $250,000, representing a fee simple ownership. Located on a high-traffic corner, the property benefits from excellent visibility and accessibility, with over 12,000 vehicles passing daily. Its proximity to Cesar E Chavez Avenue, major freeways (5, 10, 710, and 60), and public transportation ensures strong connectivity. The surrounding area boasts a vibrant retail corridor, numerous educational institutions (including Cal State LA and USC Health Sciences Campus), and a large, diverse population with significant consumer spending exceeding $1.2 billion in 2023. The property's zoning is LLC2. This presents a chance to increase revenue by leasing the vacant space and aligning rents with market rates, capitalizing on the area's 3.1% average annual rent growth over the past three years. The property's strong location and potential for increased occupancy make it an attractive investment for those seeking value-add opportunities in a thriving Los Angeles neighborhood. The APN is 5233-001-014.

• CAP approach

  CAP return

  Valuation

  6%

  $1,519,229

  6.5%

  $1,402,365

  7%

  $1,302,196

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,713,631

  Geo Method

  $1,713,631

• Alternative Use

  Use

  Valuation

  Residential

  $1,182,947

  Hospitality

  $1,083,573

  Educational

  $901,520

  Medical

  $932,525

  Retail

  $1,402,365

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0422

Longitude

-118.184

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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