Stats

• Sold Price $20,000,000
• Price per Unit $298,507
• Price per SF $542
• Number of Buildings 4
• Number of Units 67
• Gross Building Area 36,900 SF
• Lot Size 25,983 SF
• Floors 2
• Year Built 1928 & 1929
• Parking N/A
• Zoning LAR3-1VL

About the Property

SOLD!

1026-1036 Sanborn Ave & 1037 Hyperion Ave

The Montecito at Sunset Junction, located at 1026-1036 Sanborn & 1037 Hyperion Avenue, is an apartment community consisting of 4 contiguous, 1920s Spanish-style buildings totaling 67 units in the hippest neighborhood in Los Angeles; Silver Lake.

1026-1036 Sanborn & 1037 Hyperion Avenue offers a unit mix of 59 singles (0+1) and 8 (1+1). Top floor units have great views of the city, including Griffith Park and the Hollywood sign. Approximately 20% of the current residents are legacy tenants inherited by the previous ownership. Most of the units were renovated at different times throughout the previous owner’s tenure, which spanned over a decade.

With a limited number of institutional-sized assets in this desirable area, The Montecito presented a unique opportunity to own a substantial, well-managed portfolio of trophy assets well-positioned for an aggressive operator to implement a high-level renovation program to maximize the value of the purchase and curate a lifestyle-driven apartment complex that caters to a creative/upwardly mobile tenant base.