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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 a turnkey and high income generating property with roughly ±23% rental upside potential. In 2016, Villa Formosa underwent a substantial renovation that amounted to a roughly $1.5 million dollar floor to ceiling rebuild. Ownership replaced every major system, including main sewer line, plumbing, electrical, framing, flooring, and roof. 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 units, wood floors throughout and split-unit central AC and heat. Aesthetically, the property grounds and building are pristine, offering residents a comfortable living experience. West Hollywood, California is a robust economic and cultural center and is centrally located near Hollywood Hills, Beverly Hills, and the districts of Fairfax and Beverly Grove. WeHo is a densely populated and high demand rental market comprise of small lots, mixed land use, and walkable street grids. It is ranked as one of the most walkable cities in all of California. Main sources of business and social activities in WeHo are driven by shopping, dining, nightlife, and entertainment. PROPERTY HIGHLIGHTS: + Rebuilt and fully renovated in 2016 at a cost of roughly $1.5 million + All major building systems are new circa 2016 + High income producing turnkey asset with roughly ±23% rental upside potential + Units completely reframed and rebuilt with a convenient and open floor-plan + Attractive financing available + Located in the heart of West Hollywood, California + Diverse unit mix of (4) studios + one-bath & (12) one-bedroom + one-bath + Select units feature exposed brick and split-unit central AC & heat + Located near some of the hottest nightlife and restaurants in all of Los Angeles MLS® ID: SR22124506 Listed: 6/8/22 Updated: 10/16/22 Interior Features Kitchen Appliances: Dryer, Washer Total Bedrooms: 0 Total Bathrooms: 0 Laundry Description: Common Area Fireplace: None Exterior/Building Features Lot Size: 6,907 ft2 lot Sewer: Public Sewer Other Property Details Area Name: C10 - West Hollywood Vicinity HOA Amenities: Biking, Hiking, Park, Street Lights, Sidewalks Garage: No Parking: On Street View: N County: Los Angeles Utilities: Electricity Available, See Remarks, Water Available Water Source: Public Pool: No Pool Description: None Total Stories: 2 Courtesy of Keller Williams Realty Calabasas, Raymond Rodriguez, Listing Contact: Based on information from California Regional Multiple Listing Service, Inc. as of 10/16/22. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.