CA > Los Angeles
Los Angeles, CA 90026,244 Belmont Ave
Los Angeles, CA 90026,244 Belmont Ave
Los Angeles, CA 90026,244 Belmont Ave
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Terrance Scotton, Broker Associate

Terrance Scotton, Broker Associate

+1(626) 788-9299
$840,000
Est. payment /mo
10 Beds
5 Baths
3,846 SqFt
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UPDATED:

11/18/2024 10:07 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,846 sqft

Price per Sqft $218

MLS Listing ID 24-453189

Style Victorian

Bedrooms 10

Year Built 1890

Lot Size 4,751 Sqft

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.

Location

State CA

County Los Angeles

Area Silver Lake - Echo Park

Zoning LARD1.5

Rooms

Other Rooms None

Interior

Heating Wall

Cooling Wall/Window

Equipment Dryer, Freezer, Refrigerator, Washer, Range/Oven

Exterior

Garage None

Waterfront Description None

Building

Story 2

Sewer In Street

Architectural Style Victorian

Level or Stories Two

Others

Special Listing Condition Standard

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Terrance Scotton, Broker Associate

+1(626) 788-9299

Broker Associate | License ID: 01707848 NMLS: 908256

Broker Associate License ID: 01707848 NMLS: 908256

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