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4408 Russell Ave, Los Angeles, CA 90027
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4408 Russell Ave Los Angeles, CA 90027

$2,280,000 Sold Price as of 08/31/2021
  • 8 Beds
  • 7 Baths
  • 4,816 Sq.Ft.
Sold
$2,280,000 Sold Price as of 08/31/2021 Refinance Your Mortgage
Map preview of 4408 Russell Ave, Los Angeles, CA 90027

Property Overview: 4408 Russell Ave Los Angeles, CA has 8 bedrooms, 7 bathrooms, 4,816 living square feet and 6,769 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: One Unit Delivered Vacant! Location! Location! Location! 4408 Russell Avenue The Russell Residences is a seven-unit 4,816 square foot multifamily property comprised of (6) 1+1s and a renovated 2+1, located in the extremely desirable Los Feliz neighborhood. The Russell Residences, situated in a stellar location which has superb schools, easy access to DTLA, The San Fernando Valley, and is enticing to both Buyers, Investors, and Tenants. A new buyer can add value by conducting renovations to the units, common areas, and exterior to increase their yield and stabilize at a 7.0% cap rate. Not only that, an Owner/User can occupy one or more of the units as their own residence or office space at a fraction of the price for a condo or townhome in the same location.

Listed by David Weinberger | BRE #01349349 | Keller Williams Studio City
Co-listed by Megan Husri | BRE #02089901 | Keller Williams Studio City
Last checked: 4 minutes ago | Last updated: March 22nd, 2022 | Source CRMLS | DOM: 48

Home details

Lot Sq. Ft
6,769
HOA Dues
$0/mo
Year built
1960
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
21725314
City
Los Angeles
County
Los Angeles
Time on Site
1225 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $1,900
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,056
  • Total Rent: $1,056
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,500
  • Total Rent: $2,500
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,025
  • Total Rent: $1,025
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,438
  • Total Rent: $1,438
  • Pro Forma/Market Rent: $2,500
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,000
  • Total Rent: $2,000
  • Pro Forma/Market Rent: $2,750
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 16.4
  • Gross Scheduled Income: --
  • Net Operating Income: $97,711
  • Gross Operating Income: $147,524
Annual Expense Breakdown
  • Total Operating Expense: --

Virtual Tour

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Property Details for 4408 Russell Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Washer Included, Dryer Included, Stackable
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Wood
  • Living Room
Kitchen Information
  • Has Appliances
  • Refrigerator
Interior Features
  • Security Features: Gated Community
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Carport, Driveway
Property Information
  • Total # of Units: 7
  • Parcel Number: 5590018013
Location / Neighborhood
Location Information
  • Directions: Corner of N Commonwealth Ave and Russell Ave
View more facts & features

Local Los Angeles Agent

Sale History for 4408 Russell Ave

Last sold for $2,280,000 on August 31st, 2021

  • August, 2021

  • Aug 31, 2021

    Date

    Sold

    CRMLS: 21725314

    $2,280,000

    Price

  • Jun 16, 2021

    Date

    Active Under Contract

    CRMLS: 21725314

    $2,349,000

    Price

  • Jun 3, 2021

    Date

    Price Change

    CRMLS: 21725314

    $2,349,000

    Price

  • May 19, 2021

    Date

    Active Under Contract

    CRMLS: 21725314

    $2,499,999

    Price

  • Apr 29, 2021

    Date

    Active

    CRMLS: 21725314

    $2,499,999

    Price

  • October, 2018

  • Oct 16, 2018

    Date

    Leased

    CRMLS: OC18177053

    $1,900

    Price

  • Sep 24, 2018

    Date

    Price Change

    CRMLS: OC18177053

    $1,900

    Price

  • Jul 23, 2018

    Date

    Active

    CRMLS: OC18177053

    $2,000

    Price

  • Listing provided courtesy of CRMLS

    Welcome to your new apartment in the hotbed of a trendy city area that is continuing to establish itself as the, "place to be" in the Los Angeles area! This 1 Bed/ 1 Bathroom apartment has been renovated with new laminate flooring and painting throughout. It is outfitted with granite countertops, wall A/C and new ceiling fans and fixtures. Community Washer and Dryer on premises. This is a MUST SEE unit. You will be pleasantly surprised by the serene neighborhood surrounded by an eclectic gathering of shops and restaurants. This property is in a great little community renovated to be a clean slate for a fresh start that someone will enjoy for years to come!

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Tax History for 4408 Russell Ave

Assessed Value (2020): $379,178
Year Land Value Improved Value Assessed Value
2020 $114,098 $265,080 $379,178

Home Value Compared to the Market

This property vs the competition

4408 Russell Ave sold on August 31, 2021 for 109.73% higher than the current median sold price for the city of Los Angeles which is $1,120,000. The median sold price per/sqft for Los Angeles is $724 and this home is sold at $487.75 per/sqft which puts the price per square foot 32.63% lower than the current median sale per square foot for the city of Los Angeles.

About 4408 Russell Ave

Detailed summary of property

4408 Russell Ave is a multi family that recently sold in Los Angeles, CA 90027. This multi family property offered 8 bedrooms, 7 bathrooms, roughly 4,816 living square feet, and sits on an approximately 6,769 square foot lot. 4408 Russell Ave was first listed on ArdentRealEstateGroup.com on May 13, 2021. The homeowner sold the property for $2,280,000. Home in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 109.73% higher than the current median priced home. Local homes that are currently for sale include 1545 Murray Dr, 801 N Alexandria Ave and 5345 La Mirada Ave. While the average home in Los Angeles, CA is selling in 106 days, 4408 Russell Ave has a days on market of 48 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 4408 Russell Ave Los Angeles, CA 90027 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 4408 Russell Ave

Public county record property details
Beds
8
Baths
7
Year built
1960
Sq. Ft.
4,816
Lot Size
6,768
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
60
APN
5590-018-013

The source for these homes facts are from public records.

90027 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$2,488,000
Median List Price/Sq.Ft.
$943
Median Sold Price
$2,340,000
Median Sold Price/Sq.Ft.
$1,093
Total Inventory
81
Median Sale to List Price %
126.55%
Avg Days on Market
35
Loan Type
Conventional (14.29%), FHA (0%), VA (0%), Cash (7.14%), Other (0%)

Thinking of Selling?

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(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information 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. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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