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837 N Formosa Ave

Los Angeles, CA 90046
  • $1,700,000
  • STATUS: Active
  • ON SITE: 11 Days
  • MLS #: 22-117993
UPDATED: 131 min ago
$1,700,000
  • 4
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,050
    SQFT
  • $557
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

Description

We are pleased to present for sale 837 Formosa Ave, a 1930 6-unit apartment building located in an excellent Hollywood neighborhood. Situated on a 7,703 sq ft lot, the property consists of 3,050 rentable square feet and features a total of 6-units, including 4 (four) 1 bedroom/1 bath and 2 (2) Studios/ 1 bath. Located just outside of the West Hollywood city lines and rated 93on Walkscore, residents can enjoy convenient access to an array of restaurants, grocery stores, parks and entertainment, as well as excellent schools nearby rated 9/10 (rating by GreatSchools.org). Considering this property has been under the same ownership for over 30 years, this is an excellent opportunity for investors looking for significant upside potential; by repositioning the asset through renovations of both the interior and exterior, buyers will be able to significantly drive rents up all whilst establishing a higher value of the property.

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Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-23T23:42:24.28. 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.
www.haciendagroupinc.com/homes/124671921
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837 N Formosa Ave Los Angeles, CA 90046

  • Price: $1,700,000
  • Status: Active
  • On Site: 11 Days
  • Updated: 131 min ago
  • MLS #: 22-117993
4
Beds
0
Baths
0
½ Baths
0.18
Acres
3,050
SQFT
$557
$/SQFT
1930
Built
Neighborhood:
West Hollywood Vicinity
County:
Los Angeles
Area:
West Hollywood Vicinity
Property Description
We are pleased to present for sale 837 Formosa Ave, a 1930 6-unit apartment building located in an excellent Hollywood neighborhood. Situated on a 7,703 sq ft lot, the property consists of 3,050 rentable square feet and features a total of 6-units, including 4 (four) 1 bedroom/1 bath and 2 (2) Studios/ 1 bath. Located just outside of the West Hollywood city lines and rated 93on Walkscore, residents can enjoy convenient access to an array of restaurants, grocery stores, parks and entertainment, as well as excellent schools nearby rated 9/10 (rating by GreatSchools.org). Considering this property has been under the same ownership for over 30 years, this is an excellent opportunity for investors looking for significant upside potential; by repositioning the asset through renovations of both the interior and exterior, buyers will be able to significantly drive rents up all whilst establishing a higher value of the property.
Exterior Features

Lot Size Area 7703 Other Structures None Parking Garage Assigned Total Parking 6

Interior Features

Baths Total 6.00 Cooling None Equipment None Heating None

Property Features

Assessed Total Value 509671 Gross Income 95551 Gross Operating Income 95551 Like Units1 4 Like Units2 2 Net Operating Income 55789.00 Number Of Buildings 1 Number Of Units 6 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Total Annual Expense 39726 Type Of Units Standard Year Built Source Vendor Enhanced Zoning Lar3

Listing provided courtesy of Saadia 'Sam' Liberow DRE#01933858 of Marcus & Millichap.


Based on information from the Combined LA/Westside Multiple Listing Service as of 2022-01-23T23:42:24.28. 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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Hacienda Agency Inc
77935 Calle Tampico # 201
La Quinta CA, 92253