1629 N Formosa Avenue, Los Angeles, CA 90046
Local realty services provided by:CENTURY 21 LOTUS
1629 N Formosa Avenue,Los Angeles, CA 90046
$2,895,000
- 11 Beds
- 9 Baths
- 7,210 sq. ft.
- Multi-family
- Active
Listed by: dana brody, samuel aflalo
Office: dana brody818-212-2757
MLS#:26101863
Source:CRMLS
Price summary
- Price:$2,895,000
- Price per sq. ft.:$401.53
About this home
We are pleased to exclusively present The Casitas at Formosa, the exceptional opportunity to acquire a very well located and immaculately kept 9-unit multifamily property north of Sunset Boulevard in the heart of Hollywood's most sought after area, close to Runyon Canyon and The Hollywood Bowl. This beautifully maintained Mid-Century building features a desirable unit mix of seven one-bedroom/one-bath units and two two-bedroom/one-bath units, with approximately 7,250 square feet of building area on an approximately 7,027-square-foot lot. Perfectly situated West of La Brea and just south of Hollywood Boulevard, The Casitas at Formosa offers seven of the nine remodeled units, including a two-bedroom unit can be delivered vacant at closing, offering flexibility for an owner-user or investor seeking to establish market rent. The seismic retrofit has been completed, and the property features ample parking, bright and spacious units, and separately metered utilities.The investment offers $236,628 in current scheduled annual rental income and $156,755 in annual net operating income, reflecting a 5.4% current capitalization rate at the asking price. Based on projected market rents, scheduled annual rental income increases to $260,400, with estimated annual net operating income of $174,606 and a 6% market cap rate. Current scheduled monthly rents total $19,719, compared with projected market rents of $21,700 per month, presenting an opportunity for additional income growth, while confirming an excellent in-place income stream. Residents of The Casitas at Formosa enjoy outstanding Hollywood location with a 96 Walk Score and convenient access to an array of restaurants, shopping, entertainment, and neighborhood amenities. Residents can walk to popular local destinations including Bossa Nova, El Compadre, Guitar Center, and numerous additional dining and retail options. The property is also conveniently located near Yamashiro, the Hollywood Bowl, and the vibrant Sunset Boulevard and Hollywood Boulevard corridors. With seven remodeled units, completed seismic retrofit work, a two-bedroom unit available for vacant delivery at closing, and attractive current and projected operating figures, this property presents a compelling opportunity to acquire a 9 unit multifamily asset in one of Los Angeles' most recognizable and in-demand rental markets....
Contact an agent
Home facts
- Year built:1960
- Listing ID #:26101863
- Added:11 day(s) ago
- Updated:October 25, 2026 at 10:31 AM
Rooms and interior
- Bedrooms:11
- Total bathrooms:9
- Kitchen Description:Dishwasher, Microwave
- Living area:7,210 sq. ft.
Heating and cooling
- Heating:Forced Air
Structure and exterior
- Year built:1960
- Building area:7,210 sq. ft.
- Lot area:0.16 Acres
- Levels:2 Story
Finances and disclosures
- Price:$2,895,000
- Price per sq. ft.:$401.53
Features and amenities
- Appliances:Dishwasher
Parking
- Total parking spaces:9
- Parking description:Attached Carport
New listings near 1629 N Formosa Avenue
- Coming Soon
$675,000Coming Soon2 beds 1 baths870 sq. ft.Address Withheld By Seller, Gardena, CA 90247
MLS# 260025661SDListed by: ESQUIRE REALTY - Coming Soon
$546,000Coming Soon1 beds 1 baths805 sq. ft.717 W Olympic Boulevard #2501, Los Angeles, CA 90015
MLS# 26104433Listed by: REDEAVOR GROUP - Coming Soon
$524,000Coming Soon2 beds 1 baths964 sq. ft.4200 Zamora, Los Angeles, CA 90011
MLS# CV26230192Listed by: RE/MAX OLYMPIC - Coming Soon
$999,000Coming Soon4 beds 2 baths1,927 sq. ft.6414 Corbin Avenue, Reseda, CA 91335
MLS# BB26229558Listed by: EQUITY UNION - Coming Soon
$677,000Coming Soon3 beds 2 baths1,092 sq. ft.1857 Lansdowne Avenue, Los Angeles, CA 90032
MLS# PW26229449Listed by: DEE ANN TUMBUAN - Coming Soon
$775,000Coming Soon-- beds -- baths1 sq. ft.1217 -1219 W 99th, Los Angeles, CA 90044
MLS# SW26229893Listed by: GOLDEN FEATHER INVESTMENTS INC - Coming Soon
$165,000Coming Soon3 beds 2 baths1,344 sq. ft.8811 Canoga Ave #221, Canoga Park, CA 91304
MLS# SR26228727Listed by: KELLER WILLIAMS VIP PROPERTIES - Coming Soon
$2,999,999Coming Soon4 beds 3 baths2,800 sq. ft.11438 Bolas Street, Los Angeles, CA 90049
MLS# 26104234Listed by: RODEO REALTY - Coming SoonOpen Sat, 11:45am to 3pm
$1,160,000Coming Soon-- beds -- baths2,007 sq. ft.1057 S Alma, Los Angeles, CA 90023
MLS# DW26229756Listed by: FIRST FAMILY HOMES - Coming Soon
$499,000Coming Soon3 beds 1 baths1,374 sq. ft.343 W 74th, Los Angeles, CA 90003
MLS# RS26229346Listed by: CIRCLE REAL ESTATE