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853 Sanborn Avenue - Cliffdale Apartments, Los Angeles, CA

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853 Sanborn Avenue - Cliffdale Apartments

Los Angeles, CA 90029-3015 - Silver Lake MF Submarket

Property Type:Multi-Family Number of Units:31 Status:Existing Year Built:1929
Stories:2 Building Size:16,110 SF Land Area:.3 AC (13,072 SF)
For Sale Price:$10,500,000 Price/Unit:$338,709.68 Cap Rate:4.67 % GRM:-

Parking:1.36 Parking Spaces / 1,000 SF

Property Description: 31-UNIT APARTMENT BUILDING

Sale Notes:
Rich Johns at KW Commercial is pleased to offer for sale, 853 Sanborn Avenue, Los Angeles, CA 90029, a 31 Unit apartment community in LA' s most dynamic rental market. The asset is sited on the iconic corner of Sanborn Avenue and Hoover Street in Silver Lake and within blocks of Sunset Junction, the area' s retail and entertainment hub.
Built in 1929 and completely renovated in 2015-2016, the offering is comprised of 16,110 square feet of improvements in one structure on a unique 13,017 square foot parcel of land.
The unit make up is perfectly positioned to attract today' s millennial demographics and consists of Three(3) studio units, Twenty Four(24) one-bedroom/one-bathroom units, and Four(4) two-bedroom/one-bathroom apartment homes.
All 31 apartment interiors have been dramatically renovated to Next-Level finishes including designer finishes throughout ALL Baths, ALL Kitchens, Flooring and Fixtures.
The common areas have been enhanced with an iconic courtyard highlighted by 3 "living wall" gardens and public gathering spaces.
Building's foundation has been retrofitted.

KW Commercial
Rich Johns
(818) 432-1500

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