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244 Belmont Avenue
Los Angeles, CA 90026
** 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.
PROPERTY INFORMATION
| MLS # | 24453189 | Lot Size | 4,751 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 840,000
Price Per SqFt: $ 218 |
DOM | 200 Days |
| Address | 244 Belmont Avenue | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,846 Sq. Ft. |
| Postal Code | 90026 | Garage | N/A |
| County | Los Angeles | Year Built | 1890 |
| Bed / Bath | 10 / 0 | Parking | N/A |
| Built In | 1890 | Status | Active |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Washer Included, Dryer Included |
| Has Appliances | Yes |
| Kitchen Appliances | Refrigerator |
| Has Heating | Yes |
| Heating Information | Wall Furnace |
| Has Cooling | Yes |
| Cooling Information | Wall/Window Unit(s) |
| Entry Level | 1 |
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $896
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/15/2024 | Listed | $899,000 |
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Listing provided courtesy of Reid C. Kaplan, RE/MAX ESTATE PROPERTIES. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
