OFFERED CONCURRENTLY WITH HAYDEN ON HOLLYWOOD (HOLLYWOOD) & GRACIE ON GRAMERCY (HOLLYWOOD).
OPPORTUNITY TO PURCHASE INDIVIDUALLY OR TOGETHER.
Institutional Property Advisors (“IPA”), as the exclusive listing agent, is pleased to present the opportunity to acquire Sienna on Sanborn (the “Property”), a four-building, 67-unit multifamily community located in the Silver Lake submarket of Los Angeles.
Originally constructed in 1928, current ownership has spent $2.7M ($40K+ per unit) on capital expenditures to completely transform the community. Many of the Property’s mechanical systems and building improvements have been addressed which allows investors to focus almost entirely on high return on investment interior renovations moving forward.
52 of the 67 unit interiors (78%) have been extensively renovated, including new cabinetry, new stainless steel appliances, plank vinyl flooring, quartz countertops, backsplash, new dual-pane windows, recessed LED lighting fixtures, and upgraded plumbing fixtures. Investors will have the opportunity to follow this proven interior renovation strategy in the remaining 15 units (22%) and capture 13%+ upside in rental income.