Ross Multifamily is pleased to present a non- rent controlled 1979 construction four-unit apartment building located at 1544 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, one-bedroom/one-bath units.This property offers a great opportunity for an investor to come in and capture the rental income upside by bringing the non rent controlled rents to market. The property offers on site parking, as well as gated access. 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 owners neighboring building is also on the market, offering even more potential to 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
- Non Rent Control
- Huge Upside in Rents
