1118 Sanborn Ave Los Angeles, CA 90029

This exceptional investment opportunity presents a five-unit multifamily property situated in the highly desirable Silver Lake neighborhood of Los Angeles, California. The property, located at 1118-1120 Sanborn Avenue, consists of three buildings totaling 3,110 square feet on a 6,250 square-foot lot. The property features a mix of unit sizes, including one freestanding, single-family home with two bedrooms and two bathrooms, and four one-bedroom, one-bathroom units housed within two duplex buildings. The single-family home, approximately 1,250 square feet, boasts an open floor plan, large kitchen with a bar area, bamboo and knotty pine flooring, and a recently rebuilt private patio accessible from the master bedroom. The duplex units offer a blend of updated and classic features. Some units feature modern kitchens and bathrooms with updated lighting and fixtures, while others retain original charm, including Douglas Fir flooring and clawfoot bathtubs. Many units include additional rooms that could serve as offices or bonus spaces, and several have recently rebuilt private patios or decks. Significant property updates include newer Rinnai tankless water heaters (2014), updated electrical systems (2011 and ongoing), and recently replaced roofs. The property is currently 100% occupied, generating a net operating income (NOI) of $83,771, with a pro-forma NOI of $135,923. The asking price is $1,995,000, representing a price per square foot of $641 and a price per unit of $399,000. The property's location, just steps from Sunset Junction, offers unparalleled access to Silver Lake's vibrant amenities and strong rental demand. The property is zoned LARD2. Built in 1920 with renovations in 1980, this property presents a compelling combination of location, unit mix, and potential for increased profitability. The property's current below-market rents offer a significant value-add opportunity for the new owner.