Property listed by Dana Brody, Dana Brody 818-212-2757
$3,550,000
We are very pleased to present 1530 Formosa, a very well-maintained 10-unit multi-family asset perfectly situated north of the world famous Sunset Boulevard and walking distance to many popular shops and restaurants. This well-located multi-family asset also features an assumable 3.74% interest & principal loan fixed through 2040, providing strong… Read More day-one leveraged cash flow and a total return above 7.1%. Recent improvements include completed seismic retrofit, horizontal repiping and a new roof. The building is 100% occupied and offers an excellent mix of large and bright one and two bedroom units, many of which have been remodeled. 1530 Formosa, which can be purchased separately or together as part of the Sunset Legacy Collection, offers investors the opportunity to acquire well-maintained apartment assets in premier infill locations with the benefit of extremely attractive assumable financing, including loans with sub-3% interest-only rates and sub-4% long-term fixed financing, creating a highly favorable debt structure that is virtually impossible to replicate in today's interest rate environment. Strategically positioned near some of Los Angeles' most iconic corridors including Sunset Boulevard, Melrose Avenue, Robertson and Ventura Boulevards, the properties benefit from exceptional proximity to the region's premier retail, dining, nightlife, and employment centers. Residents enjoy walkable access to renowned destinations such as Melrose Place, Sunset Strip hospitality and entertainment venues, and the high-end retail and restaurant scene surrounding Beverly Hills and West Hollywood. Additional assets in Valley Village provide exposure to the San Fernando Valley's thriving studio and entertainment employment hubs, while the Pico/Robertson location offers immediate access to Beverly Hills and Century City. The buildings feature a strong mix of one, two and three bedroom units, attractive layouts, and desirable neighborhood settings that continue to drive consistent rental demand from professionals working in media, entertainment, technology, and hospitality sectors throughout Los Angeles. The Sunset Legacy Collection represents a rare portfolio acquisition opportunity, offering scale in premier Los Angeles submarkets combined with exceptionally favorable assumable financing and long-term investment stability. The portfolio is ideally suited for a high-net-worth investor or family office seeking high-quality multi-family assets in irreplaceable locations with strong long-term rental demand. For sophisticated investors seeking to acquire one or more of these trophy assets, 1530 Formosa Avenue can be purchased individually or as part of The Sunset Legacy Collection. Read Less
Listing Snapshot
Days Online
25
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: $257,801, Net Operating Income: $173,819
Lot
0.1734 acres
Parking
10 total parking spaces, Covered, Carport, Garage
Taxes
Parcel Number: 5548011025, Zoning: LAR3
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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.
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