We are pleased to present a seven-unit investment opportunity in Koreatown at 4651 Council St, a corner lot just south of Beverly Blvd. The property features an ideal unit mix of two one-bedrooms and five two-bedrooms with 10 parking spaces; the soft story retrofit work has been completed. Ownership has completed full renovations of five units with upgrades including in-unit washers & dryers, vinyl plank flooring, stainless steel appliances, new kitchen cabinets and tile backsplashes, new plumbing fixtures and improvements, new drywall, paint, and base moldings, and energy efficient LED lighting, among others. In addition to interior unit renovations, ownership has recently completed exterior and common area capital expenditures including LED lighting, house panel and subpanel upgrades, new door numbers, new landscaping, and new paint throughout the common areas. Opportunity to acquire an asset with little to no deferred maintenance and strong in-place cash flow at a 5.16% CAP rate and 12.86 GRM on current income with an additional 19% rental upside. High Walk Score of 93, close proximity to schools, employment, and transit options. Central location makes it convenient for residents to commute throughout the city to nearby neighborhoods such as Downtown LA, East Hollywood, Hollywood, Westlake, and Mid-City, among others. Koreatown is one of the densest neighborhoods in Los Angeles, with about 120,000 people. With an estimated $1billion invested in the development of Koreatown since the early 2000s and various development projects taking place, Koreatown remains one of the highly coveted submarkets in all of Los Angeles.
Property Details
Property Features
Property Information:
Year Built: 1958
Stories: 2
Living Area: 7,444 SqFt
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (310) 909-5500
Listing Agent: Neema Ahadian
Interior Features
Interior Information:
Appliances: Dishwasher, Microwave, Refrigerator
Bedroom and Bathroom Information:
Total Bedroom Count: 12
Exterior Features
Parking Information:
Parking: None
Lot Features
Lot Information:
Lot Size: 0.17 Acres
Utilities
Utilities Information:
Heating: Central
Other
Directions Information:
Directions: Just south of Beverly Blvd, on the corner of Council St & N St Andrews Pl
Price Information
Listing Price Info
Price Summary:
List Price: $2,785,000
Price Per SqFt: $374/SqFt
Tax Information:
Annual Amount: $23,806
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Los Angeles, CA.
This property is $1.7M more than the Median Sold Price and $266/SqFt less than other homes in Los Angeles, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #24454031
Listing Office:
Office Name: Marcus & Millichap
Office Phone: (310) 909-5500
Listing Agent: Neema Ahadian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/18/2024, 7:21:07 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jan 31, 2018
Jan 31, 2018Home Sold
$1,832,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$23,806
$1,925,757
2020
$23,121
$1,906,012
2019
$3,491
$1,868,640
2018
$3,393
$202,063
2017
$3,393
$198,102
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
7
/10
Kim Elementary School
225 S Oxford Ave
Distance between this listing and this school0.37 miles
Public District Grades KG-5
5
/10
Harvard Elementary
330 N Harvard Blvd
Distance between this listing and this school0.46 miles
Public District Grades KG-5
6
/10
Cahuenga Elementary School
220 S Hobart Blvd
Distance between this listing and this school0.47 miles
Public District Grades KG-5
Nearby Schools
5
/10
Virgil Middle School
152 N Vermont Ave
Distance between this listing and this school1.18 miles
Public District Grades 6-8
3
/10
Camino Nuevo Charter Academy #2
3400 W 3rd St
Distance between this listing and this school1.37 miles
Public Charter Grades KG-8
4
/10
Joseph Le Conte Middle School
1316 N Bronson Ave
Distance between this listing and this school1.43 miles
Public District Grades 6-8
Nearby Schools
5
/10
RFK Community Schools - UCLA Community School
700 S Mariposa Ave
Distance between this listing and this school1.31 miles
Public District Grades KG-12
7
/10
Central City Value
221 N Westmoreland Ave
Distance between this listing and this school1.34 miles
Public Charter Grades 9-12
4
/10
RFK Community Schools - Ambassador School of Global Leadership
701 S Catalina St
Distance between this listing and this school1.34 miles
The neighbors living near this home have an average income of $58,875. Most Los Angeles, CA residents have annual incomes between $35k-100k. Most families are single, no kids. Most residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 4651 Council St
What is the listing price of this property?
The listing price of 4651 Council St property is $2,785,000.
What type of property is this?
The property 4651 Council St is a house located in Los Angeles, California, 90004.
Is this property for sale now?
Active Listing: 4651 Council St is For Sale (Active/New) which means the seller is accepting offers.
What is the annual property tax for this property?
According to the records, the last property tax for 2021 is $23,806 (source: MLS/based on county public records data).
When was this property sold last time and for how much?
The last sale was on January 31, 2018 for $1,832,000. (source: MLS/tax record).
How many bedrooms and bathrooms does this property have?
The property at 4651 Council St has 12 bedrooms and 10 bathrooms.
What is the square footage of this property?
The property 4651 Council St is 7,444 SqFt (source: MLS/tax record).
Which year was this property built?
The year of construction for 4651 Council St is 1958.
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This home is located at 4651 Council St in Los Angeles, CA and zip code 90004 in the Central LA neighborhood. This 7,444 square foot home, which was built in 1958, sits on a 0.17 acre lot. Features: 12 bedrooms, 10 bathrooms. It has been listed on Rocket Homes since October 17, 2024 and is currently priced at $2,785,000.
Los Angeles, CA housing market in November 2024 saw over 512 listings sold above listed price, more than 177 sold at listed price and over 657 sold below. The number of homes for sale in Los Angeles, CA decreased by 0.6% between October 2024 and November 2024. In November 2024, listings were on the market for 38 days. During the same period, the median list price in this real estate market was $1,021,532.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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