Property Detail

1530 Formosa

Los Angeles CA 90046

$2,999,999

Status: Active

Property Details

Description

Beautifully positioned North of Sunset Boulevard at the crossroads of West Hollywood, Hollywood and the Sunset Strip, 1530 N. Formosa Avenue presents an exceptional opportunity to acquire a stabilized 10-unit multifamily asset in one of Los Angeles' most sought-after rental markets. Offered at $2,999,000, or just $299,900 per unit, the property is 100% occupied and generates $179,492 of in-place NOI, representing an attractive 5.98% in-place cap rate. The property sits within a highly walkable lifestyle district surrounded by some of Los Angeles' most recognizable restaurants, entertainment venues, nightlife and cultural destinations. Residents are within walking distance of Bossa Nova, El Compadre, Aroma Coffee & Tea and the renowned dining and entertainment offerings along Sunset Boulevard, while remaining minutes from Melrose Avenue, Beverly Hills, Runyon Canyon, the Hollywood Bowl and major employment centers serving the entertainment, media, technology and creative industries. 1530 N. Formosa is exceptionally well positioned to benefit from the continued investment and transformation occurring throughout West Hollywood and the Sunset Strip. The area continues to attract new residential, retail, restaurant, hospitality and mixed-use development, further strengthening the surrounding live-work-play environment. The proposed 9034 Sunset Boulevard project represents one of the major developments planned along the Sunset corridor and calls for approximately 198 residential apartments, including 35 affordable units, along with approximately 9,250 SF of office space, 1,800 SF of restaurant space and 2,840 SF of retail. The project would add a significant new residential and commercial component to the Sunset Boulevard corridor. Additional investment is occurring throughout the broader West Hollywood area, including projects introducing new retail, food-and-beverage, wellness, gallery and pedestrian-oriented uses. This continued development is helping expand the area's amenity base and reinforce Sunset Boulevard and surrounding neighborhoods as premier destinations for residents, visitors and businesses.The nearby Beverly Hills corridor is also experiencing substantial residential and mixed-use investment, further strengthening the broader Westside/Hollywood submarket. New development along Wilshire Boulevard, Santa Monica Boulevard and Beverly Drive is adding housing, retail, dining and hospitality offerings while improving connectivity throughout the area. The property features an attractive mix of spacious one- and two-bedroom residences, with all units thoughtfully remodeled with contemporary finishes that appeal to today's renters. All units feature private patios and/or balconies, providing a highly desirable amenity in the Los Angeles rental market. Ownership has completed significant capital improvements, substantially reducing near-term capital requirements for a new owner. Improvements include a new roof, completed Soft Story Seismic Retrofit, horizontal repiping and updated electrical systems, positioning the property as a well-maintained asset with major infrastructure work already addressed. With 100% occupancy and $179,492 of in-place NOI, the property provides a strong current income base while offering additional upside through continued interior renovations, rental-rate optimization and operational improvements.

Map Location

Listing provided courtesy of Dana Brody of Dana Brody. Last updated 2026-09-28 08:10:57.000000. Listing information © 2025 CRMLS.

Ever Eternity

Ever Eternity

CA DRE# 01794748

1111 Prospect St, Suite 100 La Jolla,
​​​​​​​CA 92037

858.688.4113

Contact Me
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Welcome

Meet Ever

Ever Eternity is Your Local Real
Estate Professional

Whether it's your first townhouse, vacation property or coastal dream home, I will work to find the property that's best for you. I am able to anticipate and fulfill each of my clients needs, in order to find the perfect home for them and their family. I am here to work with you, to find the best fit for you, and am excited for the opportunity.

People choose to work with me for my full service expertise, experience and ethics. My base of loyal customers is the reason I am successful in this competitive sales market.

​My attention to detail allows me to find dream homes for buyers, and build thorough home marketing plans for my sellers. I have great pride in my negotiation skills and believe in transparency and full disclosure throughout each deal. I value open communication with my clients and welcome questions from start to close.

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"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"Ever was simply excellent. He is thorough, approachable and very knowledgable of the house buying process. We appreciated his manner and help throughout our purchase process - he never made us feel pressured to select a house and helped us find a perfect match. He was especially helpful when we needed to juggle urgent travel during the Escrow process, helping us set up power of attorney. We would recommend Ever to any type of buyer and will certainly use him for any future real estate needs that we have."

"I worked with Ever through the process of an Estate Sale and sale of a condominium. Throughout the experience he and his team were extremely helpful. I had never been involved with an estate sale previously and was working with the additional factor of not being local. After an initial meeting I was able to deal with he and his team remotely which simplified the entire process and experience. Any questions or issues I had were very quickly addressed and resolved. My entire experience was very positive. Thank You!"

"My Mom passed away 1/31/21 needless to say it was a very difficult time for me. I needed help selling my mothers home. I reached out to Ever and he stepped up big! From the beginning he was a true professional great communication skills, great attitude, always made time for me and answered any questions I had. He showed compassion for my situation and went above and beyond to make things as easy as possible for me. Go with Ever you won’t regret it!"

"Ever has been my agent through two purchases and one sale. He has a keen sence of the market and knows how best to price and time sales and purchases. He makes sure to get the job done and places the most importance on making his satisfying his clients wishes to the best of his ability. He works well with escrow, property managers, and whomever he needs to speak with."

"Working with Ever was a joy. We had a number of unexpected challenges during the process of selling our house and Ever was consistently there to help, guide, and support us. He was always available for consultation and never lost sight of the immediate issues nor the long term goals. Ever was an exemplary professional in every way and I would highly recommend him."

"Working with Ever was a great experience. Selling our Mom's house was emotionally difficult for us. Ever guided us thru the process and made it smooth and easy as possible for us. He responded to all of our questions with professionalism and knowledge. He kept us informed of every action during the sale. We trusted his advice and insights and he delivered on everything he said. The sale was quick and smooth and we couldn't be happier. We highly recommend Ever. He definitely knows his business."

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