Los Angeles, CA 90026 1571 Council Street
$899,000
16 more
Presented By: Reid C. Kaplan with RE/MAX ESTATE PROPERTIES;
Home Details
** Motivated Seller - Now priced for quick sale. ** Great opportunity to own a well-maintained corner lot quadruplex on a great block at the top of the hill in Historic Filipinotown! Charming complex with two buildings (two separate addresses: 244-246 Belmont and 1571-1573 Council - both up and down), the front one with quaint brick steps and front patio and a Queen Anne-style roof turret. Exterior has been recently painted and features four good sized units, each with front and rear entrances, and all occupied by excellent long-term tenants. Finishes could use updating, but some systems have been upgraded including updated electrical, own water heaters, washer/dryer hookups, A/C in some units. Great unit mix and more than 100% potential up-side in rents after remodeling or great income generating home for future owner-user. Actual rents: 244 Belmont: $1,039.48, 246 Belmont: $1,098.74, 1571 Council: $1,379.00, and 1573 Council: $1,039.37. ($4,556.59/month total). Possibility to raise rents by 4% on February 1, 2025. Nicely landscaped front and side yards with lime tree and patio area between buildings. Great location with views of Downtown and much development going on nearby. Close to Echo Park, Downtown LA, Dodger Stadium, along with numerous coffee shops, restaurants, medical facilities, and recreation facilities.
Presented By: Reid C. Kaplan with RE/MAX ESTATE PROPERTIES;
Interior Features for 1571 Council Street
Bedrooms
Total Bedrooms10
Bathrooms
1/4 Baths0
3/4 Baths0
Half Baths
Total Baths5
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
FlooringCarpet, Tile, Wood
Heating Y/NYes
Total Stories2
Other Rooms
Entry Level1
General for 1571 Council Street
Additional Parcels Y/NNo
AppliancesRefrigerator, Dryer, Washer
Architectural StyleVictorian
Attached Garage No
Buyer FinancingCash
Cap Rate3.77
Carport Y/NNo
CityLos Angeles
CountyLos Angeles
Days on Market55
DirectionsSouth of Temple St., North of Beverly Blvd., West of Glendale Blvd. at corner of Council and Belmont.
DisclosuresRentControl
Full Baths
Garage Y/NNo
Gross Income54679.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet4751.0
Lot Size UnitsSquareFeet
MLS AreaC21 - Silver Lake - Echo Park
MobileHomeRemainsYNNo
Net Operating Income32740.0
New ConstructionNo
NumberOfUnitsTotal4
Occupancy TypeTenant
Private PoolNo
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerOther
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tenant PaysElectricity, Gas, TrashCollection
ViewCityLights
View Y/NYes
Virtual TourClick here
Waterfront Y/NNo
Year Built1929
ZoningLARD1.5
Exterior for 1571 Council Street
Building Area Total3846.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.1091
Lot Size Area4751.0
Number of Buildings2
Open Parking Y/NNo
Parking FeaturesNone
SpaNo
Total Parking0.0
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480