244 Belmont Avenue, Los Angeles, CA 90026
-
Listed Price :
$840,000
-
Beds :
10
-
Baths :
5
-
Property Size :
3,846 sqft
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Year Built :
1890
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.
Interior Features
| Bedroom Information |
| Bedrooms |
10 |
| Bathroom Information |
| Bathrooms |
5 |
| Interior Information |
| Cooling Type |
Wall/Window Unit(s) |
Listing Information
| Address |
244 Belmont Avenue |
| City |
Los Angeles |
| State |
CA |
| Zip |
90026 |
| County |
Los Angeles |
| Listing Agent |
Reid C. Kaplan DRE #01711288 |
| Courtesy Of |
RE/MAX ESTATE PROPERTIES |
| List Price |
$840,000 |
| Status |
Active |
| Type |
Residential Income |
| Structure Size |
3,846 |
| Lot Size |
4,751 |
| Year Built |
1890 |
Listing information courtesy of: Reid C. Kaplan, RE/MAX ESTATE PROPERTIES. *Based on information from the Association of REALTORS/Multiple Listing as of Oct 24th, 2024 at 4:10 PM 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.
