1118 Sanborn AveLos Angeles, CA 90029

Property Details for 1118 Sanborn Ave

Year built

1980

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

3,110 SF

Zone code

LARD2

Property type

Apartment buildings

APN

5429-013-006

APU

5429013006

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,137,473

  6.5%

  $1,049,975

  7%

  $974,977

• Comparable approach

  Method

  Valuation

  Relative Method

  $916,666

  Geo Method

  $916,666

• Alternative Use

  Use

  Valuation

  Residential

  $1,049,975

  Hospitality

  $961,772

  Educational

  $800,183

  Medical

  $827,702

  Retail

  $1,244,728

Location Insight

City

Los Angeles

County

Los Angeles

State

California

Latitude

34.0929

Longitude

-118.28

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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