Ross Multifamily is pleased to present a four-unit apartment building located at 1538 Council Street. This offering is in the rapidly gentrifying Historic Filipinotown neighborhood, just north of Downtown Los Angeles. This charming, and well maintained two-story building consists of four spacious two-bedroom/one-bathroom units.This property offers a great opportunity for an investor to come in and capture the rental income upside by bringing the rents to market. The property offers individual storage units, and ample street parking. The building is in walking distance to schools, shopping, and award winning restaurants, having received a Walking Score of 83 (very walkable). Surrounding the property you will find Rockwood Park, Beverly Park, Echo Park Lake, and Vista Hermosa Park. The owner’s neighboring (non rent controlled) building is also on the market, offering even more potential for an investor to capitalize additional income as a portfolio. In addition to the strong existing demographics, there are excellent opportunities for growth; including major new developments a stone’s throw away. Such as, the highly anticipated Geoff Palmer Development, La Ferrante to be built at Temple & Beaudry.
Highlights:
- Rapidly Gentrifying Area
- Walk Score 83 (Very Walkable) Near Echo Park Lake
- Tremendous Amount of New Development
- Huge Upside in Rents
