Investment Overview

Marcus & Millichap is pleased to present 4310 Russell Ave., an investment opportunity of a 34-unit apartment building in Los Feliz, one of the most coveted rental submarkets in all of Los Angeles, located just east of Hillhurst Ave. between Commonwealth Ave and Talmadge St. This is a rare opportunity to purchase a sizeable asset in this pocket of the submarket adjacent to American Broadcast Studios. Los Feliz is considered a premier rental market of Los Angeles attracting quality tenants and providing easy access to amenities in Hollywood as well as the 101 & 5 Freeways. The building features an ideal, rare unit mix of of 32 two-bedrooms (1,000 SF), one single (350 SF), and one 2+2.5 townhouse (1,200 SF) – each with their own private balcony. The property has 66 gated parking spaces and secure entry and exit. Furthermore, there is a community laundry room with washers and dryers. The rental income provides stable current cash flow to an investor with additional upside over 17% achievable through increasing rent as units turn. The 1987 construction does not fall within the city of Los Angeles rent control. The neighborhood of Los Feliz is highly desirable and a densely populated rental market of Los Angeles. Surrounded by multimillion-dollar single-family residences north and south of Los Feliz Blvd, the property provides apartment renters the opportunity to reside in an affluent community. The neighborhood borders sprawling Griffith Park, beloved by locals for its hiking, concerts at the Greek Theatre and stargazing at Griffith Observatory.