$2,500,000

Estimated payment $16,188/month

Total Views 635
12 Beds
11 Baths
7,444 Sq Ft
$336 Price per Sq Ft

About This Home

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 5.93% CAP rate and 11.12 GRM on current income with an additional 17% 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 $1 billion 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.

Listing Agent

Neema Ahadian

Marcus & Millichap License #01346750 Listed on: 06/23/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Lot Details

  • 7,424 Sq Ft Lot

Interior Spaces

  • 7,444 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 12 Bedrooms
  • 11 Bathrooms

Parking

  • 10 Parking Spaces
  • Attached Carport

Community Details

  • 7 Units
  • Vacancy Allowance $11,345

Listing and Financial Details

  • Assessor Parcel Number 5516-020-010

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 7444
  • Lot Acreage: 0.1704
  • Stories: 2
  • Year Built: 1958
  • Number Of Photos: 14
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 12
  • Total Bathrooms: 11.00
  • Price Per S Q F T: 335.84

Exterior Features

  • Other Structures: None

Garage/Parking

  • Parking Garage: Carport Attached
  • Total Parking: 10

Lot Info

  • Assessed Improvement Percent: 45.41
  • Assessed Improvement Value: 928109
  • Assessed Land Percent: 54.59
  • Assessed Land Value: 1115517
  • Total Assessed Value: 2043626
  • Assessor Parcel Number: 5516-020-010
  • Lot Size Area: 7424

Rental Info

  • Total Actual Rent: 215196.00

Multi Family

  • Unit Type: 2106, 2107
  • Gross Rent Multiplier: 11.12
  • Number Of Units: 7
  • Total Annual Expense: 65370
  • Type Of Units: Apartments
  • Vacancy Allow: 11345
  • Vacancy Allow Percent: 5.00
  • Vacancy Rate: 0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/23/2025 06/23/25 For Sale $2,500,000 -- $336 / Sq Ft
Source: The MLS

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Source: The MLS

MLS Number: 25556547

The MLS