5447 Russell Ave

We are pleased to present this value-add, eighteen (18) unit, investment opportunity located at 5447 Russell Ave. This two-story, 12,544 square foot apartment building is situated on a 12,888 square foot parcel zoned LAC4. This classic midcentury 1958 apartment building has central courtyard with a pool and front carport access. This is a great opportunity for a value-add investor, as the rents are approximately 50% below market. The unit mix is 2, studios, 14, one bedroom one bath and 2, two bedroom one bath. Five units will be delivered vacant, 1 studio, 3, one bedroom one bath, and 1, two bedroom one bath. The projected renovated rents for the vacant units are $1,400 0+1, $1,900 1+1 and $2,750 2+1. This building is in the Los Feliz community of Los Angeles home to Griffith Park, Griffith Observatory and Greek Theatre. The residents have a wide range of amenities close by such as restaurants, shopping, medical clinics, and recreation areas.