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1234 N Formosa Avenue

West Hollywood, CA 90046
  • $5,625,000
  • STATUS: Active
  • ON SITE: 111 Days
  • ID#: SR22124506
$5,625,000
  • 0
    BEDS
  • 0.16
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1931
County:

School Ratings & Info

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 a turnkey and high income generating property with roughly 23% rental upside potential.In 2016, Villa Formosa underwent a substantial renovation that amounted to a roughly $1.5 million dollar floor to ceiling rebuild. Ownership replaced every major system, including main sewer line, plumbing, electrical, framing, flooring, and roof.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-BathThe 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 brick in select units, wood floors throughout and split-unit central AC and heat.Aesthetically, the property grounds and building are pristine, offering residents a comfortable living experience.West Hollywood, California is a robust economic and cultural center and is centrally located near Hollywood Hills, Beverly Hills, and the districts of Fairfax and Beverly Grove. WeHo is a densely populated and high demand rental market comprise of small lots, mixed land use, and walkable street grids. It is ranked as one of the most walkable cities in all of California. Main sources of business and social activities in WeHo are driven by shopping, dining, nightlife, and entertainment.PROPERTY HIGHLIGHTS: + Rebuilt and fully renovated in 2016 at a cost of roughly $1.5 million+ All major building systems are new circa 2016+ High income producing turnkey asset with roughly 23% rental upside potential+ Units completely reframed and rebuilt with a convenient and open floor-plan+ Attractive financing available+ Located in the heart of West Hollywood, California+ Diverse unit mix of (4) studios + one-bath & (12) one-bedroom + one-bath+ Select units feature exposed brick and split-unit central AC & heat+ Located near some of the hottest nightlife and restaurants in all of Los Angeles

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Based on information from CRISNet MLS as of 2022-09-29T23:56:36.88. 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. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-09-29T23:56:36.88. 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.searchhomesincalifornia.com/homes/129722489
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1234 N Formosa Avenue West Hollywood, CA 90046

  • Price: $5,625,000
  • Status: Active
  • On Site: 111 Days
  • ID#: SR22124506
0
Beds
0
Baths
0
½ Baths
0.16
Acres
1931
Built
Neighborhood:
C10 - West Hollywood Vicinity
County:
Los Angeles
Area:
C10 - West Hollywood Vicinity
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 a turnkey and high income generating property with roughly 23% rental upside potential.In 2016, Villa Formosa underwent a substantial renovation that amounted to a roughly $1.5 million dollar floor to ceiling rebuild. Ownership replaced every major system, including main sewer line, plumbing, electrical, framing, flooring, and roof.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-BathThe 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 brick in select units, wood floors throughout and split-unit central AC and heat.Aesthetically, the property grounds and building are pristine, offering residents a comfortable living experience.West Hollywood, California is a robust economic and cultural center and is centrally located near Hollywood Hills, Beverly Hills, and the districts of Fairfax and Beverly Grove. WeHo is a densely populated and high demand rental market comprise of small lots, mixed land use, and walkable street grids. It is ranked as one of the most walkable cities in all of California. Main sources of business and social activities in WeHo are driven by shopping, dining, nightlife, and entertainment.PROPERTY HIGHLIGHTS: + Rebuilt and fully renovated in 2016 at a cost of roughly $1.5 million+ All major building systems are new circa 2016+ High income producing turnkey asset with roughly 23% rental upside potential+ Units completely reframed and rebuilt with a convenient and open floor-plan+ Attractive financing available+ Located in the heart of West Hollywood, California+ Diverse unit mix of (4) studios + one-bath & (12) one-bedroom + one-bath+ Select units feature exposed brick and split-unit central AC & heat+ Located near some of the hottest nightlife and restaurants in all of Los Angeles
Exterior Features

Lot Features Lot 6500-9999 Lot Size Area 6907.0000 Parking Features Street Parking Total 0.00 Parking YN No

Interior Features

Common Walls 2+ Common Walls Fireplace Features None Fireplace YN No Laundry Features Common AreaDryer IncludedWasher Included Laundry YN Yes

Property Features

Additional Parcels YN No Community Features BikingHikingParkSidewalksStreet Lights Land Lease YN No New Construction YN No Pool Features None Pool Private YN No Property Attached YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Utilities Electricity AvailableSee RemarksWater Available Water Source Public

Listing provided courtesy of Raymond Rodriguez, CA DRE# 01402283, of Keller Williams Realty Calabasas: 818-657-6500.


Based on information from CRISNet MLS as of 2022-09-29T23:56:36.88. 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. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2022-09-29T23:56:36.88. 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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30700 Russell Ranch Road, Suite 200
Westlake Village CA, 91362