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1571 Council St, Los Angeles, CA 90026
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1571 Council St Los Angeles, CA 90026

$950,000
  • 10 Beds
  • 5 Baths
  • 3,846 Sq.Ft.
For Sale
$950,000 Get Pre-Qualified
Map preview of 1571 Council St, Los Angeles, CA 90026

Property Overview: 1571 Council St Los Angeles, CA has 10 bedrooms, 5 bathrooms, 3,846 living square feet and 4,751 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: ** Price Reduction - Seller also willing to contribute to buyer's interest rate buy-down. ** 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). 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.

Listed by Reid C. Kaplan | BRE #01711288 | RE/MAX ESTATE PROPERTIES
Last checked: 5 minutes ago | Last updated: September 11th, 2024 | Source CRMLS | DOM: 51

Home details

Lot Sq. Ft
4,751
HOA Dues
$0/mo
Year built
1929
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24417749
City
Los Angeles
County
Los Angeles
Time on Site
50 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,039
  • Total Rent: $1,039
  • Pro Forma/Market Rent: $2,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,039
  • Total Rent: $1,039
  • Pro Forma/Market Rent: $2,600
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Furnishing: Unfurnished
  • Actual Rent: $1,099
  • Total Rent: $1,099
  • Pro Forma/Market Rent: $3,000
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,379
  • Total Rent: $1,379
  • Pro Forma/Market Rent: $2,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 3.5%
  • Gross Rent Multiplier: 17.37
  • Gross Scheduled Income: --
  • Net Operating Income: $32,740
  • Gross Operating Income: $54,679
Annual Expense Breakdown
  • Total Operating Expense: --

Open Houses for 1571 Council St

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Property Details for 1571 Council St

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included
Room Information
  • Flooring: Carpet, Wood, Tile
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Property Information
  • Has View
  • View: City Lights
  • Total # of Units: 4
  • Parcel Number: 5159019023
  • Architectural Style: Victorian
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Other
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: South of Temple St., North of Beverly Blvd., West of Glendale Blvd. at corner of Council and Belmont.
View more facts & features

Local Los Angeles Agent

Sale History for 1571 Council St

Last sold for $465,000 on July 3rd, 2012

  • July, 2024

  • Jul 30, 2024

    Date

    Active

    CRMLS: 24417749

    $995,000

    Price

  • July, 2012

  • Jul 3, 2012

    Date

    Sold (Public Records)

    Public Records

    $465,000

    Price

  • April, 2012

  • Apr 27, 2012

    Date

    Sold (Public Records)

    Public Records

    $388,003

    Price

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Tax History for 1571 Council St

Assessed Value (2020): $523,577
Year Land Value Improved Value Assessed Value
2020 $225,195 $298,382 $523,577

Home Value Compared to the Market

This property vs the competition

1571 Council St is listed 20.83% lower than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $247.01 per/sqft which puts the price per square foot 67.84% lower than the median price per square foot for the city of Los Angeles.

About 1571 Council St

Detailed summary of property

1571 Council St is a multi family located in Los Angeles, CA 90026 and is currently for sale. This multi family property offers 10 bedrooms, 5 bathrooms, roughly 3,846 living square feet, and sits on an approximately 4,751 square foot lot. 1571 Council St was first listed on ArdentRealEstateGroup.com on July 30, 2024. The homeowner is currently asking $950,000 and was originally asking $995,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 20.83% lower than the median priced home. Local competing homes currently for sale include 618 N Grand Ave, 1835 W 12th St and 1125 S Lake St. While the average home in Los Angeles, CA is selling in 106 days, 1571 Council St has a days on market of 51 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 1571 Council St Los Angeles, CA 90026 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1571 Council St

Public county record property details
Beds
9
Baths
5
Year built
1929
Sq. Ft.
3,846
Lot Size
4,749
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,6-7
APN
5159-019-023

The source for these homes facts are from public records.

90026 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,225,000
Median List Price/Sq.Ft.
$787
Median Sold Price
$1,217,000
Median Sold Price/Sq.Ft.
$985
Total Inventory
77
Median Sale to List Price %
101.5%
Avg Days on Market
33
Loan Type
Conventional (22.22%), FHA (0%), VA (0%), Cash (11.11%), Other (0%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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.

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