$5,150,000

We are proud to present Villa Formosa, located at 1234 North Formosa Avenue. Villa Formosa is a stunning Spanish revival multifamily investment property located in the highly coveted City of West Hollywood. This rare investment opportunity represents the best cap rate (4.75%) currently offered for sale in West Hollywood and a turnkey, high income generating property with roughly ±17% rental upside potential. In 2016, Villa Formosa underwent a substantial renovation that amounted to a roughly $1.5 million floor to ceiling rebuild. Ownership replaced every major system, including main sewer line, plumbing, electrical, framing, flooring, and roof. The building is individually metered for gas and electricity, and RUBS is in place for tenant water usage. The apartment building totals ±10,080 square feet and offers 16 large, light, and bright spacious units in one two-story building comprise of: (4) Studios + One-Bath (12) One-Bedroom + One-Bath The property is situated on a ±6,907 square foot lot zoned WDR3C and originally constructed in 1927-1931. All but one unit are completely reframed and rebuilt with a convenient and open floor-plan. Unit amenities include fully redesigned kitchens and baths with the utmost attention to detail, large arched windows and exposed brick in select