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Sienna on Sanborn 1037 Hyperion Ave 67 Unit Apartment Building $13,500,000 ($201,493/Unit) 6.22% Cap Rate Los Angeles, CA 90029
Investment Highlights
- Sienna on Sanborn offers investors a proven interior renovation scope to emulate and capture 13%+ in remaining rental income upside.
- Silver Lake is a high demand rental market. 90% of the population are renters and 44% are between the ages of 20 and 44.
- The Property consists of 4 separately parceled contiguous buildings which provides disposition optionality
- Notable capital improvements include upgraded electrical systems and replacing all of the windows throughout the community.
- The Property offers residents a true live, work, play environment just steps from Virgil Village and Sunset Junction
Executive Summary
$1.1 MILLION PRICE REDUCTION
OFFERED CONCURRENTLY WITH & 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.
OFFERED CONCURRENTLY WITH & 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.
Financial Summary (Actual - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $13,500,000 | Property Subtype | Apartment |
| Price Per Unit | $201,493 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.22% | Lot Size | 0.60 AC |
| Gross Rent Multiplier | 9.34 | Building Size | 36,900 SF |
| No. Units | 67 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1928 |
| Zoning | R3-1VL | ||
| Price | $13,500,000 |
| Price Per Unit | $201,493 |
| Sale Type | Investment |
| Cap Rate | 6.22% |
| Gross Rent Multiplier | 9.34 |
| No. Units | 67 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.60 AC |
| Building Size | 36,900 SF |
| No. Stories | 3 |
| Year Built | 1928 |
| Zoning | R3-1VL |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Freezer
Site Amenities
- Laundry Facilities
- Picnic Area
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 59 | - | 240 - 450 |
| 1+1 | 7 | - | 646 - 676 |
| 1+1.5 | 1 | - | 680 |
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Very walkable
80/100
Moderately drivable
70/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $10,610,740 (2025) | |
| Land Assessment | $11,699,487 (2025) | Total Assessment | $22,310,227 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$11,699,487 (2025)
Improvements Assessment
$10,610,740 (2025)
Total Assessment
$22,310,227 (2025)
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Sienna on Sanborn | 1037 Hyperion Ave
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