Description
We are pleased to present for sale 837 Formosa Ave, a 1930 6-unit apartment building located in an excellent Hollywood neighborhood. Situated on a 7,703 sq ft lot, the property consists of 3,050 rentable square feet and features a total of 6-units, including 4 (four) 1 bedroom/1 bath and 2 (2) Studios/ 1 bath. Located just outside of the West Hollywood city lines and rated 93 on Walkscore, residents can enjoy convenient access to an array of restaurants, grocery stores, parks and entertainment, as well as excellent schools nearby rated 9/10 (rating by GreatSchools.org). Considering this property has recently been under the same ownership for over 30 years, this is an excellent opportunity for investors looking for significant upside potential; by repositioning the asset through renovations of both the interior and exterior, buyers will be able to significantly drive rents up all whilst establishing a higher value of the property. Alternatively, by utilizing density bonus, developers can build up to 12 units. Don't miss out on the opportunity to own in this highly desirable area ripe with new development.
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0BEDS
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0.18ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
We are pleased to present for sale 837 Formosa Ave, a 1930 6-unit apartment building located in an excellent Hollywood neighborhood. Situated on a 7,703 sq ft lot, the property consists of 3,050 rentable square feet and features a total of 6-units, including 4 (four) 1 bedroom/1 bath and 2 (2) Studios/ 1 bath. Located just outside of the West Hollywood city lines and rated 93 on Walkscore, residents can enjoy convenient access to an array of restaurants, grocery stores, parks and entertainment, as well as excellent schools nearby rated 9/10 (rating by GreatSchools.org). Considering this property has recently been under the same ownership for over 30 years, this is an excellent opportunity for investors looking for significant upside potential; by repositioning the asset through renovations of both the interior and exterior, buyers will be able to significantly drive rents up all whilst establishing a higher value of the property. Alternatively, by utilizing density bonus, developers can build up to 12 units. Don't miss out on the opportunity to own in this highly desirable area ripe with new development.
Based on information from California Regional Multiple Listing Service, Inc. as of 2022-05-24T07:31:44.907. 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 deemed reliable but is not guaranteed accurate by the MLS or Legacy 15 Real Estate Brokers. Licensed in the State of California, USA.