Homes for sale - 244 Belmont AVE, Los Angeles, CA 90026

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Ashlea Boyer

exec@pismohomes.com +1(805) 709-0711

$ 840,000

Est. payment | -/mo

10 Beds

5 Baths

3,846 SqFt

Save

$ 840,000

Est. payment | -/mo

Save

10 Beds

5 Baths

3,846 SqFt

Key Details

Property Type Multi-Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,846 sqft

Price per Sqft $218

MLS Listing ID 24453189

Bedrooms 10

HOA Y/N No

Year Built 1890

Lot Size 4,752 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 C21 - Silver Lake - Echo Park

Zoning LARD1.5

Interior

Heating Wall Furnace

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features None

Building

Story 2

Entry Level Two

Sewer Other

Architectural Style Victorian

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID UNAVAILABLE

Financing Cash

Special Listing Condition Standard

Listed by Reid C. Kaplan • RE/MAX ESTATE PROPERTIES

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(805) 709-0711

exec@pismohomes.com

350 James Way, Pismo Beach, California, 93449, USA

244 Belmont AVE Los Angeles, CA 90026