$2,250,000
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10 Beds
8 Baths
6,856 SqFt
SOLD DATE : 06/17/2024
Key Details
Sold Price $2,250,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 6,856 sqft
Price per Sqft $328
MLS Listing ID 24389497
Sold Date 06/17/24
Bedrooms 10
HOA Y/N No
Year Built 1956
Lot Size 6,764 Sqft
Property Description
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!
Location
State CA
County Los Angeles
Area C10 - West Hollywood Vicinity
Zoning WDR3C*
Interior
Heating Natural Gas
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered
Total Parking Spaces 6
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5531009015
Special Listing Condition Standard
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Bought with Lee Mintz • Compass
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
25101 The Old Road Suite 240, Ranch, Ca, 91381, United States