Property listed by Lyon Stahl Investment Real Estate, Inc., Jake Glaser 310-425-9838
$2,290,000
FIRST TIME ON MARKET IN 25 YEARS... 1643 N Formosa Ave is a charming 8-unit apartment building located in Hollywood. Built in 1954, this well-maintained property is comprised of (6) one-bedroom / one-bathroom units and (2) two-bedroom / one-bathroom units. Additionally (2) of the 1-bedroom units will be delivered vacant,… Read More with one of them being completely remodeled. There are a total of (6) covered parking spaces with strong ADU potential, plus a community laundry room which provides additional income. The units are also separately metered for gas and electricity. The property has seen significant upgrades in recent years, such as new electrical panels and copper plumbing throughout. The property is also fully gated and secured with an electronic keypad in the driveway. The property is conveniently located just below Hollywood Blvd and one block West of La Brea Ave. Located in the prime 90046 zip code of Hollywood, this asset presents investors with an excellent opportunity to acquire a well maintained Mid-Century apartment building and capitalize on solid rental upside and detached ADU potential. Read Less
Listing Snapshot
Days Online
13
Last Updated
Property Type
Other
Beds
10
Square Ft.
6,019
Lot Size
0.16 Acres
Year Built
1954
MLS Number
25496301
30 Days Snapshot Of 90046
$2,030k
-3%
(avg) sold price
16
+33%
homes sold
100
-2%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1954, Building area total: 6,019, Levels: Two, Living area: 6019, 2 stories, 1 building
Heating
None
Income
Gross income: $191,079, Net operating income: $121,251
Laundry
CommonArea
Lot
0.1614 acres, 7,031 square feet, Size: 7,031
Parking
6 totals parking, Carport
Property
Zoning: LAR3
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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