Low Gable Attic Vent
This low gabled vent really doesn't make any
sense and was poorly installed.
The gabled vent should have been raised to where the arrow is pointing to, this would provide better attic ventilation.
Hot air rises and with the gable vent installed this low you could actually create a pocket of warm moist air in that area above this gable vent, the entire length of the attic. That's a lot of air in a large attic.
While doing home inspections, this is going to be something you will rarely run into. Most gable vents are installed as high as they can be on exterior walls.