See all 29 photos
29 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$5,150,000
Est. payment /mo
6,907 Sqft Lot
UPDATED:
03/29/2023 04:56 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CNSR23010846
Originating Board CRISNet
Year Built 1931
Lot Size 6,907 Sqft
Property Description
We are proud to present Villa Formosa, located at 1234 North Formosa Avenue. Villa Formosa is a stunning Spanish revival multifamily investment property located in the highly coveted City of West Hollywood. This rare investment opportunity represents the best cap rate (4.75%) currently offered for sale in West Hollywood and a turnkey, high income generating property with roughly ±17% rental upside potential. In 2016, Villa Formosa underwent a substantial renovation that amounted to a roughly $1.5 million floor to ceiling rebuild. Ownership replaced every major system, including main sewer line, plumbing, electrical, framing, flooring, and roof. The building is individually metered for gas and electricity, and RUBS is in place for tenant water usage. The apartment building totals ±10,080 square feet and offers 16 large, light, and bright spacious units in one two-story building comprise of: (4) Studios + One-Bath (12) One-Bedroom + One-Bath The property is situated on a ±6,907 square foot lot zoned WDR3C and originally constructed in 1927-1931. All but one unit are completely reframed and rebuilt with a convenient and open floor-plan. Unit amenities include fully redesigned kitchens and baths with the utmost attention to detail, large arched windows and exposed bri
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Interior
Laundry Laundry Area, Dryer, Washer
Exterior
Parking Features Off-Street Parking
Pool None
Building
Water District - Public
Others
Tax ID 5531008017
Special Listing Condition Not Applicable
Read Less Info
© 2024 MLSListings Inc. All rights reserved.
Listed by Raymond Rodriguez • Keller Williams Realty Calabasas