1132 N Formosa Ave West Hollywood , CA 90046
Active
$3,750,000
9 Units
10 Beds
10 Baths
6,325 Area(sq.ft.)
6,970 Lot Size(sq.ft.)
| Type | # of Units | Bedroom | Bath | Furnished | Rent | Actual Rent | Projected Rent |
|---|---|---|---|---|---|---|---|
| Unit 1 | 1 | 2 | 2 | No | $ 2,865 | $ 2,865 | $ 3,250 |
| Unit 2 | 1 | 2 | 1 | No | $ 3,150 | $ 3,150 | $ 3,150 |
| Unit 3 | 6 | 1 | 1 | No | $ 2,216 | $ 13,300 | $ 15,570 |
| Unit 4 | 1 | studio | 1 | No | $ 1,746 | $ 1,746 | $ 1,895 |
| 4 | 9 | 10 | 10 | $ 21,057 | $ 87,561 | $ 101,715 |
| MLS #: | 24-463661 |
| Days On Market: | 0 |
| County: | Los Angeles |
| Property Type: | Residential Income |
| Price per ft2: | $ 593 |
| Price per unit: | $ 416,667 |
| Year Built: | 1957 |
Property Details
1132 N. Formosa is a turnkey 9-unit complex, next to Formosa Park, located in walkable and premium West Hollywood neighborhood. Located 1 block from Santa Monica Blvd. and La Brea Ave. the property is near a large selection of artisan coffee shops, charming cafes, buzzing quick bite eateries, trendy boutiques, private gyms, and highly reviewed restaurants. The property is meticulously maintained by ownership & recently upgraded with new electrical, a new water heater in 2021, new roof shingles, and soft-story retrofit completion (buyer to verify). 6 out of 9 renovated units feature wood-vinyl flooring, quartz countertops, stainless-steel appliances, updated tile, and more. Property amenities include community laundry and five tandem parking spaces.Interested in this Listing?
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Income Details
| Rent Control: | Yes, 100% |
| Vacancy Rate: | 1% |
| Gross Operating Income: | $ 247,467 |
| Total Annual Expense: | $ 82,746 |
| Net Operating Income: | $ 164,720 |
| Gross Annual Income: | $ 253,812 |
| Gross Rent Multiplier: | 14.77 |
Structure
| Type of Units: | Apartments |
| Buildings: | 1 |
| Levels: | Two |
| Security Features: | Gated |
| View Description: | None |
Land & Parking
| Zoning: | WDR3C* |
| Parking Garage: | Tandem |
Interior
| AC/Cooling: | Wall/Window |
| Equipment: | Dishwasher, Garbage Disposal, Built-Ins, Cable, Freezer, Refrigerator, Range/Oven |
| Heating: | Wall |
| Fireplace Rooms: | None |
| Laundry: | Community |
Exterior
Detailed Map
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