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Travis Breton

travisbreton@gmail.com +1(760) 470-2752

Listed by Raymond Rodriguez, DRE #01402283 • Keller Williams Realty Calabasas

$ 5,150,000

Est. payment | -/mo

6,907 Sqft Lot

Save

$ 5,150,000

Est. payment | -/mo

Save

6,907 Sqft Lot

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CNSR23010846

Year Built 1931

Lot Size 6,907 Sqft

Source CRISNet

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

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(760) 470-2752

travisbreton@gmail.com

1902 Wright Place #200, Carlsbad, CA 92008, USA

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1234 N Formosa AVE West Hollywood, CA 90046