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    1541 N Formosa Ave

    Los Angeles, CA 90046
    • $7,350,000
    • STATUS: Active
    • ON SITE: 51 days
    • ID#: 20-610652
    UPDATED: 174 min ago
    $7,350,000
    • 25
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 15,310
      SQFT
    • $480
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1961
    County:
    Area:

    School Ratings & Info

    Description

    Price reduced by $100,000. The new asking price is $7,350,000. The property is individually metered for gas and electricity. The two-levels of apartments are situated around a courtyard with an attractive swimming pool and patio with barbecue at the rear of the property. Boasting a Walk Score of 96, the property is steps away from Runyon Canyon, Sunset Boulevard, Santa Monica Boulevard, and La Brea Avenue and is a true walkers paradise. Several units have been recently upgraded and renovated during unit turnover but there remains an impressive amount of rental upside for a new owner to take advantage of. There is a storage area that could be potentially converted into a legal unit through the city's ADU program. Amenities at this community include full kitchens, hardwood floors, two-story lobby, air conditioning, gated access, swimming pool with barbecue area, landscaped courtyard,covered parking, and balconies and patio in select units.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-17T23:42:38.693. 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.
    www.randyplaice.com/homes/108322658
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    1541 N Formosa Ave Los Angeles, CA 90046

    • Price: $7,350,000
    • Status: Active
    • Updated: 174 min ago
    • ID#: 20-610652
    25
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    15,310
    SQFT
    $480
    $/SQFT
    1961
    Built
    Neighborhood:
    Hollywood
    County:
    Los Angeles
    Area:
    Hollywood
    Property Description
    Price reduced by $100,000. The new asking price is $7,350,000. The property is individually metered for gas and electricity. The two-levels of apartments are situated around a courtyard with an attractive swimming pool and patio with barbecue at the rear of the property. Boasting a Walk Score of 96, the property is steps away from Runyon Canyon, Sunset Boulevard, Santa Monica Boulevard, and La Brea Avenue and is a true walkers paradise. Several units have been recently upgraded and renovated during unit turnover but there remains an impressive amount of rental upside for a new owner to take advantage of. There is a storage area that could be potentially converted into a legal unit through the city's ADU program. Amenities at this community include full kitchens, hardwood floors, two-story lobby, air conditioning, gated access, swimming pool with barbecue area, landscaped courtyard,covered parking, and balconies and patio in select units.
    Exterior Features

    Lot Size Area 14635 Other Structures None Parking Garage Covered Parking Total Parking 20

    Interior Features

    Baths Total 24.00 Cooling Air Conditioning Equipment Barbeque Heating Wall

    Property Features

    Assessed Total Value 3379411 Gross Income 465138 Gross Operating Income 458015 Like Units1 16 Like Units2 3 Like Units3 1 Net Operating Income 293987.00 Number Of Buildings 1 Number Of Units 20 Sale Type Standard Source Living Area Assessor Source Lot Size Area Assessor Total Annual Expense 164029 Type Of Units 20 Year Built Source Assessor Zoning Lar3

    Listing provided courtesy of Brent Sprenkle DRE#01290116 of Berkadia.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-17T23:42:38.693. 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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    Randy Plaice and Associates | RE/MAX
    27720 Dickason Drive
    Valencia CA, 91355