1146 N Formosa Avenue West Hollywood, CA ^$ 2,350,000

1146 N Formosa Avenue

^$ 2,350,000

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Recently Listed

1146 N Formosa Avenue

West Hollywood, CA, 90046

^$ 2,350,000

Bedrooms10 Baths8.0 Sq 6,856

Monthly Estimate*

^$ 15,619

Listed by Lyon Stahl Investment Real Estate, Inc.

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Multi-Family Home for sale in West Hollywood, CA

for $2,350,000 with 10 bedrooms and 8 full baths. This 6,856 square foot home was built in 1956 on a lot size of 0.1553.

Fantastic 8-unit investment property located in prime West Hollywood. This is the first time the property's been on the market in approximately 46 years! The mid-century apartment complex, built in 1956, offers a total of 6,856 square feet of living space, with each unit boasting 857 square feet on average. The building features a strong unit mix, of (2) spacious 2-bedroom/1-bath units and (6) large 1-bed / 1-bath units. Four of the eight units have received interior upgrades over the years, and the building has received significant capital improvements including a full copper repipe in 2013. The roof was also fully replaced in 2009. Additionally, the property's tuck-under parking with 6 spots in the back of the lot does not require a soft-story retrofit per the City of West Hollywood (Buyer to verify with City). One unit will also be delivered vacant. 1146 N Formosa is occupied by several long-term tenants, offering over 60% upside on the current rents!

Multi-Family Active

Price

^$ 2,350,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Lot Size

0.1553

Year Built

1956

Town/City

West Hollywood

County/Region

Los Angeles

MLS | Web ID

24389497

Days on Market

Features

General

Heating NaturalGas

Zoning WDR3C*

Year Built 1956

Stories 2

Levels Two

Gross Income 149940.0

County Los Angeles

Net Operating Income 94208.0

New Construction N

Property Type ResidentialIncome

HOA / Comm Assn N

Attached Garage N

Garage Y/N N

Special Listing Conditions Standard

Status ActiveUnderContract

Directions Formosa Ave just north of Santa Monica Blvd.

City West Hollywood

View Y/N N

Senior Community Y/N N

Total Units 8

MLS Area C10 - West Hollywood Vicinity

Lot Size Square Feet 6764.0

Private Pool N

Waterfront Y/N N

Carport Y/N N

Street Name Formosa

Property Attached Y/N N

Land Lease Y/N N

Home Warranty Y/N N

Lease Renewal Y/N N

Additional Parcels Y/N N

Lease Considered Y/N N

Rent Control Y/N N

Days on Market 16

Standard Status ActiveUnderContract

Cap Rate 4.01

Exterior

Parking Features Covered

Total Parking 6.0

Lot Size Area 6764.0

Number of Buildings 1

Spa N

Building Area Total 6856.0

Lot Size Acres 0.1553

Lot Size Units SquareFeet

Crops Included Y/N N

Open Parking Y/N N

Horse Y/N N

Irrigation Water Rights Y/N N

Interior

Total Stories 2

Basement (Y/N) N

Air Conditioning Y/N N

Heating Y/N Y

Fireplace Y/N N

Full Baths 0

Half Baths 0

1/4 Baths 0

3/4 Baths 0

Street Suffix Avenue

Laundry Features CommonArea

Total Bedrooms 10

Electric On Property Y/N N

Total Baths 8

Internal Only

Street Number 1 1146

* Excluded Features

List By

Lyon Stahl Investment Real Estate, Inc.

Broker

(310) 230-5157

Phone

Affordability Calculator

$15,619

Per Month

Monthly Principal & Interest: $15,619
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in West Hollywood, CA

Average List Price ^$3,525,009

Percent of Sale Price 50%

About West Hollywood, CA

35,971 Population

1% Since 2002

^$69,697 Median Income

43.33 Median Age

4% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

273443 Elementary School

272636 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/8/2024	$2,350,000		Listed Price

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1146 N Formosa Avenue, West Hollywood, CA, 90046 is a Multi-Family Home for sale at $2,350,000 with 6,856 sqft and a lot size of 0.1553. 1146 N Formosa Avenue has 10 bedrooms, 8.0 baths, and was built in 1956. The property's zip code is 90046 which is in West Hollywood, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 5/28/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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1146 N Formosa Avenue

Multi-Family Home for sale in West Hollywood, CA

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