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837 N Formosa Avenue

Los Angeles (City), CA 90046
  • $1,895,000
  • STATUS: Active
  • ON SITE: 15 Days
  • ID#: 22152912
Price Reduced
UPDATED: 31 min ago
$1,895,000
  • 0
    BEDS
  • 0.18
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

Listing Agent(s): Rebecca Eliav of Century 21 Hollywood (323-462-7436)


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 93 on 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 recently 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. Alternatively, by utilizing density bonus, developers can build up to 12 units. Don't miss out on the opportunity to own in this highly desirable area ripe with new development.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-20T00:31:21.923. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
www.northsdrealty.com/homes/128326667
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837 N Formosa Avenue Los Angeles (City), CA 90046

  • Price: $1,895,000
  • Status: Active
  • On Site: 15 Days
  • Updated: 31 min ago
  • ID#: 22152912
0
Beds
0
Baths
0
½ Baths
0.18
Acres
1930
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - 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 93 on 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 recently 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. Alternatively, by utilizing density bonus, developers can build up to 12 units. Don't miss out on the opportunity to own in this highly desirable area ripe with new development.
Exterior Features

Parking Features None Parking Total 0

Interior Features

Cooling None Cooling YN No Heating None Heating YN No

Property Features

Association Fee 0 Gross Income 95551 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 70551 New Construction YN No Possession Close Of Escrow Senior Community YN No Special Listing Conditions Standard Zoning Lar3



Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-20T00:31:21.923. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Houston Team | Compass CA DRE#01991628. Licensed in the State of California, USA.
 
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The Houston Team | Compass CA DRE#01991628
2100 Costa Del Mar
Carlsbad CA, 92009
Listing Agent(s): Rebecca Eliav of Century 21 Hollywood (323-462-7436)