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We are pleased to exclusively present The Casitas at Formosa, the exceptional opportunity to acquire a very well located and immaculately kept 9-unit multifamily property north of Sunset Boulevard in the heart of Hollywood's most sought after area, close to Runyon Canyon and The Hollywood Bowl. This beautifully maintained Mid-Century building features a desirable unit mix of seven one-bedroom/one-bath units and two two-bedroom/one-bath units, with approximately 7,250 square feet of building area on an approximately 7,027-square-foot lot. Perfectly situated West of La Brea and just south of Hollywood Boulevard, The Casitas at Formosa offers seven of the nine remodeled units, including a two-bedroom unit can be delivered vacant at closing, offering flexibility for an owner-user or investor seeking to establish market rent. The seismic retrofit has been completed, and the property features ample parking, bright and spacious units, and separately metered utilities.The investment offers $236,628 in current scheduled annual rental income and $156,755 in annual net operating income, reflecting a 5.4% current capitalization rate at the asking price. Based on projected market rents, scheduled annual rental income increases to $260,400, with estimated annual net operating income of $174,606 and a 6% market cap rate. Current scheduled monthly rents total $19,719, compared with projected market rents of $21,700 per month, presenting an opportunity for additional income growth, while confirming an excellent in-place income stream. Residents of The Casitas at Formosa enjoy outstanding Hollywood location with a 96 Walk Score and convenient access to an array of restaurants, shopping, entertainment, and neighborhood amenities. Residents can walk to popular local destinations including Bossa Nova, El Compadre, Guitar Center, and numerous additional dining and retail options. The property is also conveniently located near Yamashiro, the Hollywood Bowl, and the vibrant Sunset Boulevard and Hollywood Boulevard corridors. With seven remodeled units, completed seismic retrofit work, a two-bedroom unit available for vacant delivery at closing, and attractive current and projected operating figures, this property presents a compelling opportunity to acquire a 9 unit multifamily asset in one of Los Angeles' most recognizable and in-demand rental markets.
Property Type(s):
Residential Income
| Last Updated | 10/13/2026 | Year Built | 1960 |
|---|---|---|---|
| Community | C20 - Hollywood | County | Los Angeles |
Additional Details
| APPLIANCES | Dishwasher, Microwave |
|---|---|
| AREA | C20 - Hollywood |
| GARAGE | Attached Garage |
| HEAT | Forced Air |
| LOT | 7031 sq ft |
| LOT DIMENSIONS | 7029 |
| PARKING | Attached, Attached Carport |
| STORIES | 2 |
Location
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Listed with Dana Brody
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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