New Construction Triplex with
For Sale
$1,700,000
232 E Gage, Los Angeles, CA 90003
2023-built triplex with a front three-story duplex and detached two-story ADU, featuring individually metered utilities.
Property Size5,218 SF
Days on Market53
Property Features for 232 E Gage
General Information
Standard status
Active
Size
5,218 SF
Property subtype
MULTI_FAMILY
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Sprinkler System
Yes
Multifamily Units
3
Amenities
drought-tolerant landscaping
decorative wood fencing
block walls
decorative paver hardscape
automatic security gate
fully enclosed secured property
automatic fire sprinkler system
two-car attached garage
generous on-site parking
Samsung stainless steel appliances
dedicated laundry rooms
central HVAC systems
tankless water heaters
energy-efficient low-voltage LED recessed lighting
Building Details
Building Size
5,218 SF
Year Built
2023
Listing Agency:
Keller Williams SELA
Listed By:
Joshua Vivanco · License #02199160
(562) 299-7934
Source:
Milsteinestates
Added: Jul 16
Changed: Sep 2
Last Checked: Sep 5 at 6:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams SELA
Investment Insights
Based on property information with market context.
Built in 2023, this new construction triplex combines a front three-story duplex with a detached two-story ADU, providing distinct residential units under one secured property. The front building includes two three-level residences, each with five bedrooms and four and a half bathrooms. The detached rear ADU offers three bedrooms and two bathrooms across two stories. Interior finishes include quartz countertops, custom shaker cabinetry, designer two-tone interior paint, custom window shades, and dedicated laundry rooms with Samsung washers and dryers. Additional upgrades include central HVAC systems, tankless water heaters, energy-efficient LED recessed lighting, and an automatic fire sprinkler system throughout all units.
The exterior features drought-tolerant landscaping, decorative fencing and block walls, decorative paver hardscape, and an automatic security gate. The property includes a two-car attached garage and generous on-site parking, with utility infrastructure supported by 3 electric meters, 3 gas meters, 2 water meters, and 1 sub-water meter. Located with immediate access to the 110 Freeway, it is just minutes from USC, BMO Stadium, the LA Memorial Coliseum, SoFi Stadium, Crypto.com Arena, Exposition Park, and Downtown Los Angeles. Walk Score is 74, Bike Score is 78, and Transit Score is 61.
The exterior features drought-tolerant landscaping, decorative fencing and block walls, decorative paver hardscape, and an automatic security gate. The property includes a two-car attached garage and generous on-site parking, with utility infrastructure supported by 3 electric meters, 3 gas meters, 2 water meters, and 1 sub-water meter. Located with immediate access to the 110 Freeway, it is just minutes from USC, BMO Stadium, the LA Memorial Coliseum, SoFi Stadium, Crypto.com Arena, Exposition Park, and Downtown Los Angeles. Walk Score is 74, Bike Score is 78, and Transit Score is 61.
Key Highlights
- 2023‑built triplex: front three‑story duplex plus detached two‑story ADU
- Two front residences each offer 5 bedrooms and 4.5 bathrooms across three levels
- Detached rear ADU features 3 bedrooms and 2 bathrooms across two stories
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,125
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,362,500
$2.4M
Cap Rate 7%
$1,687,500
$1.7M
Cap Rate 9%
$1,312,500
$1.3M
Market Conditions
NOI Build-Up for 5,218 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$172.2K $33.00/SF
− Vacancy
−$3.4K −$0.66/SF
EGI
$168.8K $32.34/SF
− OpEx
−$50.6K −$9.70/SF
NOI
$118.1K $22.64/SF
Area
ZIP 90003
Vacancy
2.00%
Lease Rate
$33.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,362,500
Cap Rate 7%
$1,687,500
Cap Rate 9%
$1,312,500
Alternative Uses
Best Use
Apartment 5plus
$92.25M
$80.72M – $107.63M
NOI $6,457,557 @ 7.0% cap · market cap 379.86%
Second Best
Multifamily LT 5
$1.69M
$1.48M – $1.97M
NOI $118,125 @ 7.0% cap · market cap 6.95%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,462
Businesses Nearby
Explore this area
Business Placement
Demographics for 90003, CA
72,764
Population
18,349
Households
4
Avg Household Size
30
Median Age
7%
College-Educated
53%
High-School Grad
3.6 sq mi
ZIP Area
20,212
Density / Sq Mi
$54,781
Median Household Income
$30,132
Median Earnings
$1,515
Median Rent
$547,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - 2023-built triplex with a front three-story duplex and detached two-story ADU, featuring individually metered utilities.
Where is this triplex located?
The property is located at 232 E Gage Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 2023‑built triplex: front three‑story duplex plus detached two‑story ADU; Two front residences each offer 5 bedrooms and 4.5 bathrooms across three levels; Detached rear ADU features 3 bedrooms and 2 bathrooms across two stories
