1571 Council Street

Los Angeles, CA 90026

$899,000
Price
10
Beds
5
Baths
3,846 Sq. Ft.
$234 / Sq. Ft.
3,846
Sq. Ft.
$234
per Sq. Ft.

Description

Motivated Seller - Now priced for quick 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...Motivated Seller - Now priced for quick 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). Possibility to raise rents by 4% 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.
  1. Listed by Reid C. Kaplan • DRE #01711288 • Brokerage DRE #01050989 • RE/MAX ESTATE PROPERTIES

Property Details for 1571 Council Street

Zoning
LARD1.5
Style
Victorian
Parcel Number
5159019023
Total Units
4.0
Living Area
3846
Source Living Area
Vendor Enhanced
Area
Silver Lake (671)
Vacancy Rate
0
LISTING UPDATED: 09/23/2024 06:27 PM

Property Details for 1571 Council Street

StatusActive
MLS #24-417749
Days on Market63
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1929
Lot Size0.11 AC / 4,751 SF
CountyLos Angeles County

Virtual Tour

Building Information for 1571 Council Street

Stories2Residences-Year Built1929Building Size-Lot Size0.11 AC / 4,751 SF

Property Information for 1571 Council Street

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 4
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Apartment
  • View: Yes
  • View Description: City Lights, Skyline
  • View: City Lights
  • Entry Floor Number: 1
  • Sewer: In Street
  • Water Heaters: Yes
  • Water District: LADWP
  • Building Permit: Yes
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: As Is, Rent Control
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $54,679
  • Net Operating Income: $32,740.00
  • Gross Income: $54,679
  • Cap Rate: 3.77%
  • Gross Rent Multiplier: $16.44
  • Actual Annual Gross Rent: $54,679.00
  • Actual Gross Annual Income: $54,679
  • Actual Rent Total: $54,679.00
  • Financial Info as Of: 05/31/2024
  • Lease Per Month Year: Month
  • Owner Pays: Water, Gardener, Other
  • Total Annual Expense: 21938
Land / Lot Info
Land / Lot Info
  • Additional Parcel Number: No
  • Alley: Yes
  • Lot Acreage: 0.1091
  • Lot Size Square Feet: 4751
Parking Details
Parking Details
  • Parking Garage: None
  • Total Parking: 0
  • Parking Features: None
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Flooring: Carpet, Hardwood, Tile
  • Equipment: Freezer, Refrigerator, Washer, Dryer, Range/Oven
  • Common Walls: Attached
  • Laundry: Washer Included, Dryer Included
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 07-30-2024
  • Rent Control: Yes
  • Rent Control: 100
  • Tenant Pays: Electricity, Gas, Trash Collection
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,039.00
  • Unit Actual Rent: $1,039.00
  • Unit Projected Rent: $2,800.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,099.00
  • Unit Actual Rent: $1,099.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,379.00
  • Unit Actual Rent: $1,379.00
  • Unit Projected Rent: $2,500.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,039.00
  • Unit Actual Rent: $1,039.00
  • Unit Projected Rent: $2,600.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $313,652.00
  • Assessed Improvement Percent: 56.99
  • Assessed Land Value: $236,719.00
  • Assessed Land Percent: 43.01
  • Assessed Total Value: $550,371.00

Property History for 1571 Council Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1571 Council Street

Taxable ValueLand$241,453Additions$319,925Total$561,378
Tax Record2023$7,148 ($596 / month)
Home Facts
Total Finished SqFt3,846 SqFtAbove Grade Finished SqFt3,846 SqFtLot Size4,749 SqFtStyleQuadraplexYear Built1929ZoningLARD1.5CountyLOS ANGELESAPN5159-019-023

Schools near 1571 Council Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Betty Plasencia Elementary School
PublicK to 5

Sal Castro Middle School
Public6 to 8

Miguel Contreras Learning Complex School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1571 Council Street is a multi-family home for sale in Los Angeles, CA 90026. This property was listed for sale on July 30, 2024 by RE/MAX ESTATE PROPERTIES, it's currently listed at $899,000. It has been on the market for a total of 63 days and was last sold on June 28, 2012. This listing's school district is Los Angeles Unified School District. Nearby schools include Betty Plasencia Elementary School, Sal Castro Middle School and Miguel Contreras Learning Complex School. 1571 Council Street is a 10-bed, 5-bath, 3,846 sqft multi-family home built in 1929.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX ESTATE PROPERTIES, Reid C. Kaplan, DRE #01711288

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.