Beautifully positioned north of Sunset Boulevard in the heart of one of Los Angeles' most vibrant and sought-after rental markets, 1530 Formosa Avenue offers investors a rare combination of strong current cash flow, extensive capital improvements, and exceptional long-term appreciation potential. This fully occupied 10-unit apartment community is being offered… Read More at an attractive 5.7% in-place cap rate and 12 GRM, delivering immediate, stable returns from day one. In a market where quality multifamily assets often trade at significantly lower yields, 1530 Formosa stands out as a compelling investment opportunity, combining strong in-place income with the security of a highly desirable location and a proven rental history. Ideally situated just steps from neighborhood favorites including Bossa Nova, El Compadre, Aroma Coffee & Tea, and Sunset Boulevard's renowned dining and entertainment scene, residents enjoy an unmatched walkable lifestyle at the crossroads of Hollywood, West Hollywood, and the Sunset Strip. The property is minutes from Melrose Avenue, Beverly Hills, Runyon Canyon, major studios, and countless entertainment, media, and technology employers, making it a perennial favorite among high-income professionals seeking convenience, lifestyle, and connectivity. The property features an excellent mix of spacious one- and two-bedroom units, many of which have been thoughtfully remodeled with contemporary finishes that appeal to today's renters. The combination of upgraded interiors, strong occupancy, and desirable unit layouts has resulted in consistent tenant demand and stable cash flow.Ownership has invested significantly in the property's infrastructure, completing numerous major capital improvements that substantially reduce future ownership risk and near-term capital expenditures. Recent upgrades include a new roof, completed seismic retrofit, horizontal repiping, and updated electrical systems, positioning the asset as a true turnkey investment. Further enhancing the opportunity is the availability of attractive assumable financing, providing buyers with access to a below-market debt structure that is increasingly difficult to obtain in today's lending environment. This financing advantage can significantly improve day-one cash flow and overall investment returns when compared to newly originated debt. From a market perspective, opportunities to acquire stabilized multifamily assets north of Sunset Boulevard with a near-6% cap rate are increasingly rare. The property's irreplaceable location, strong in-place yield, extensive improvements, and walkable access to some of Los Angeles' most iconic lifestyle amenities create a compelling risk-adjusted investment profile for both private and institutional investors. Read Less
Property listed by Dana Brody, Dana Brody 310-259-7556
Listing Snapshot
Days Online
113
Last Updated
Beds
13
Square Ft.
8,198
Lot Size
0.17 Acres
Year Built
1963
MLS Number
26662069
Additional Details
Appliances & Equipment
Refrigerator
Building
Built in 1963, Living area: 8198.0, 1 building, 2 stories, Levels: Two
Cooling
WallWindowUnits
Heating
ForcedAir
Income
Gross Income: $256,368, Net Operating Income: $176,249
Lot
0.1734 acres
Parking
10 total parking spaces, Covered, Carport, Garage
Taxes
Parcel Number: 5548011025, Zoning: LAR3
Find The Perfect Home
'VIP' Listing Search
Join our email list to have access to the best off market listings in Los Angeles.
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
Michael Harby
or message me directly
Find My Dream Home
Put an experts eye on your home search! You’ll receive personalized matches of results delivered direct to you.
Import This Listing
Import Completed
To view your listing, click one of the options below.
