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5447 Russell Ave, Los Angeles, CA 90027
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5447 Russell Ave Los Angeles, CA 90027

$4,525,000 Sold Price as of 08/25/2022
  • 20 Beds
  • 20 Baths
  • 12,544 Sq.Ft.
Sold
$4,525,000 Sold Price as of 08/25/2022 Refinance Your Mortgage
Map preview of 5447 Russell Ave, Los Angeles, CA 90027

Property Overview: 5447 Russell Ave Los Angeles, CA has 20 bedrooms, 20 bathrooms, 12,544 living square feet and 12,288 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: 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.

Listed by D. Timothy Byrne | BRE #01186465 | Compass
Last checked: 11 minutes ago | Last updated: April 16th, 2024 | Source CRMLS | DOM: 10

Home details

Lot Sq. Ft
12,288
HOA Dues
$0/mo
Year built
1958
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
22176840
City
Los Angeles
County
Los Angeles
Time on Site
662 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $540
  • Total Rent: $540
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 3
  • # of Units: 13
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,263
  • Total Rent: $16,419
  • Pro Forma/Market Rent: $24,700
Unit Breakdown 4
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,900
  • Total Rent: $5,700
  • Pro Forma/Market Rent: $5,700
Unit Breakdown 5
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,475
  • Total Rent: $2,950
  • Pro Forma/Market Rent: $5,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.25%
  • Gross Rent Multiplier: 14.41
  • Gross Scheduled Income: --
  • Net Operating Income: $178,898
  • Gross Operating Income: $289,040
Annual Expense Breakdown
  • Total Operating Expense: --

Property Details for 5447 Russell Ave

Interior Features
Cooling Information
  • No Cooling
  • None
Heating Information
  • Has Heating
  • Wall Furnace
Kitchen Information
  • Has Appliances
Lot Details / Garage and Parking
Parking/Garage Information
  • Has Parking
  • Parking Features: Carport
Property Information
  • Total # of Units: 18
  • Parcel Number: 5544006003
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Just South of Franklin, East of Western
View more facts & features

Local Los Angeles Agent

Sale History for 5447 Russell Ave

Last sold for $4,525,000 on August 25th, 2022

  • August, 2022

  • Aug 25, 2022

    Date

    Sold

    CRMLS: 22176840

    $4,525,000

    Price

  • Jul 8, 2022

    Date

    Active

    CRMLS: 22176840

    $4,250,000

    Price

  • January, 2007

  • Jan 10, 2007

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 5447 Russell Ave

Assessed Value (2020): $438,769
Year Land Value Improved Value Assessed Value
2020 $191,199 $247,570 $438,769

Home Value Compared to the Market

This property vs the competition

5447 Russell Ave sold on August 25, 2022 for 257.14% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $338.81 per/sqft which puts the price per square foot 55.12% lower than the current median sale per square foot for the city of Los Angeles.

About 5447 Russell Ave

Detailed summary of property

5447 Russell Ave is a multi family that recently sold in Los Angeles, CA 90027. This multi family property offered 20 bedrooms, 20 bathrooms, roughly 12,544 living square feet, and sits on an approximately 12,288 square foot lot. 5447 Russell Ave was first listed on ArdentRealEstateGroup.com on July 26, 2022. The homeowner sold the property for $4,525,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 257.14% higher than the current median priced home. Local homes that are currently for sale include 204 N Manhattan Pl, 204 N Manhattan Pl and 6708 Willoughby Ave. While the average home in Los Angeles, CA is selling in 92 days, 5447 Russell Ave has a days on market of 10 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 5447 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 5447 Russell Ave

Public county record property details
Beds
18
Baths
18
Year built
1958
Sq. Ft.
12,544
Lot Size
12,288
Stories
--
Type
Apartment House (5+ Units)
Pool
Yes
Spa
No
County
Los Angeles
Lot#
10
APN
5544-006-003

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
$2,370,000
Median List Price/Sq.Ft.
$921
Median Sold Price
$1,785,930
Median Sold Price/Sq.Ft.
$941
Total Inventory
83
Median Sale to List Price %
99.49%
Avg Days on Market
28
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (15.38%), Other (7.69%)

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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