905 Sanborn Avenue, Los Angeles, CA 90029

Property Description

RARE 11-UNIT SILVER LAKE / EAST HOLLYWOOD INVESTMENT OPPORTUNITY OFFERED TOGETHER FOR $1,900,000905907 Sanborn Avenue and 904906 Manzanita Street present a rare opportunity to acquire two adjoining LARD1.5-zoned income properties with separate APNs and approximately 11,110 square feet of combined land and combined building size: 5,977 sq. ft. The properties are offered exclusively as one transaction and must be sold and close escrow together.905-907 Sanborn Avenue is a fully occupied eight-unit property consisting of four one-bedroom/one-bath units and four studio units. The property currently generates approximately $153,696 in annual gross rental income.904-906 Manzanita Street is a major value-add triplex consisting of a vacant two-bedroom/one-bath former owner's unit, a tenant-occupied one-bedroom/one-bath unit renting for $1,595 per month, and a vacant basement studio with one bathroom. The occupied unit generates approximately $19,140 annually, while the two vacant units offer immediate renovation, repositioning, and income-growth potential. Together, the properties currently generate approximately $172,836 in annual gross rental income, with additional upside available through the renovation and leasing of Manzanita's two vacant units.The properties have separate APNs but currently share an open yard area without a fence or wall between them. Their adjoining configuration, dual-street frontage and LARD1.5 zoning may offer additional long-term possibilities, subject to independent verification and approval by the appropriate authorities. Excellent walkable location near Silver Lake, Los Feliz and East Hollywood, with Erewhon Market, popular restaurants, cafes, boutiques, shops and everyday conveniences nearby.Offered together for $1,900,000. Buyer to independently verify all square footage, legal unit counts, permits, rents, rent-control status, zoning, property boundaries, basement-studio status and renovation or development possibilities. Please do not disturb the occupants or enter either property without being accompanied by the listing agent.