West Hollywood Multifamily Investment
1530 N Formosa Ave West Hollywood, CA 90046
1530 N Formosa Ave, West Hollywood, CA, 90046
Contact for pricing
For Sale
Contact for pricing
10-unit multifamily property in West Hollywood with assumable financing.
Property Size8,900 SF
Price / SF$348.31
Days on Market126
Property Features for 1530 N Formosa Ave
General Information
- Standard status
- Active
- Size
- 8,900 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1963
Listing Agency
Marcus & Millichap - Encino
Listed by
Dana Brody · License #CA
Source
Crexi
Added: Mar 17 Updated: Jul 10 at 1:12 pm Checked: Jul 19 at 5:22 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
Located in West Hollywood, 1530 N. Formosa Avenue is a 10-unit multifamily property. The property features a mix of one- and two-bedroom units. The property has undergone capital improvements, including a Soft Story Seismic Retrofit, horizontal repiping, and a new roof. The property is positioned near Sunset Boulevard and major employment and entertainment hubs. The building size is 8900 square feet. The property benefits from assumable financing at 3.74% fixed through 2040.
Key Highlights
- Assumable financing at a low 3.74% fixed rate through 2040 provides a significant cost of capital advantage.
- Major capital improvements already completed, including Soft Story Seismic Retrofit, repiping, and new roof, reducing future capital expenditure risk.
- Located in prime West Hollywood, close to Sunset Boulevard and major employment/entertainment hubs, ensuring consistent tenant demand.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $283.0k | $31.80 |
| − Vacancy | −$22.6k | −$2.54 |
| EGI | $260.4k | $29.26 |
| − OpEx | −$117.2k | −$13.17 |
| NOI | $143.2k | $16.09 |
8,900 SF · lease $31.80/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.05M
$1.79M – $2.39M
NOI $143,208 @ 7.0% cap · market cap 4.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.77M
$4.17M – $5.56M
NOI $333,552 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 10-unit multifamily property in West Hollywood with assumable financing.
Where is this apartment building located?
The property is located at 1530 N Formosa Ave West Hollywood, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Assumable financing at a low 3.74% fixed rate through 2040 provides a significant cost of capital advantage.; Major capital improvements already completed, including Soft Story Seismic Retrofit, repiping, and new roof, reducing future capital expenditure risk.; Located in prime West Hollywood, close to Sunset Boulevard and major employment/entertainment hubs, ensuring consistent tenant demand.
