244 Belmont Avenue

Los Angeles, CA 90026

$770,000

Sold Price
10

bed Beds

5

shower Baths

3,846 sqft

straighten / sqft

1890

calendar_month Built

Property Description

** Now priced for immediate 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). Listed rents of $4,738/month, 4.38% cap rate, and 14.77 GRM reflect upcoming 4% rent increase 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.

Listing Information

Close Price $770,000
Close Date Monday, January 6th, 2025
Status Closed
MLS 24453189
Type Residential Income
Year Built 1890
Lot Size 4,751
Structure Size 3,846
DOM 31
Courtesy Of RE/MAX ESTATE PROPERTIES
Listing Agent Reid C. Kaplan DRE#01711288

Interior Features

Total Bedroom
Bedrooms 10
Total Bathroom
Bathrooms 5
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Reid C. Kaplan, RE/MAX ESTATE PROPERTIES 310-883-8921. *Based on information from the Association of REALTORS/Multiple Listing as of Jan 14th, 2025 at 12:44 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.