Description
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.
Location
Listing Agent: D. Timothy Byrne Courtesy of: Compass The real estate listing information is provided by California Regional MLS, Inc. and/or CARETS® for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing or leasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (IDX) program of the California Regional MLS, Inc. and/or CARETS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns the web site. Information is deemed reliable but not guaranteed, and consumer is responsible for verifying the accuracy of all information. Copyright © California Regional MLS, Inc. and/or CARETS®. All Rights Reserved. Updated: 12th August, 2022 5:16 AM (UTC)
