1643 N Formosa Ave, Los Angeles, CA 90046

8 Units in Hollywood | 2 Vacants | 11.98 GRM | Copper Plumbing & Updated Electrical

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$2,290,000

Property Highlights

Charming 8 unit building in Hollywood built in 1954
First time on market in almost 25 years!
6,019 SqFt of living space on a 0.16 Acre lot
Zoned LAR3, multifamily residential
Several recent upgrades include copper plumbing throughout and updated electrical
Strong unit mix with (6) 1+1 and (2) 2+1 units
Property to be delivered with 2 vacancies
Gated & secured driveway with digital keypad
(6) covered carport parking spaces in back of lot with strong ADU potential
Prime Hollywood location just south of Hollywood Blvd, adjacent to West Hollywood

The Opportunity

The Glaser Group is pleased to present 1643 N Formosa Ave, an 8-unit apartment building located in Hollywood. Built in 1954, this well-maintained property is comprised of (6) one-bedroom / one-bathroom units and (2) two-bedroom / one-bathroom units. Additionally (2) of the 1-bedroom units will be delivered vacant, with one of them being completely remodeled. There are a total of (6) covered parking spaces with strong ADU potential, plus a community laundry room which provides additional income. The units are also separately metered for gas and electricity. The property has seen significant upgrades in recent years, such as new electrical panels and copper plumbing throughout. The property is also fully gated and secured with an electronic keypad in the driveway.

The property is convenient located just below Hollywood Blvd and one block West of La Brea Ave. Located in the prime 90046 zip code of Hollywood, this asset presents investors with an excellent opportunity to acquire a well maintained Mid-Century apartment building and capitalize on solid rental upside and detached ADU potential.