Investment Overview

Marcus and Millichap is pleased to present an eight (8) unit apartment building located at 1643 N Formosa Avenue in Los Angeles, California. The subject property is positioned in a prime Hollywood location, one block south of Hollywood Boulevard and one block west of N La Brea Avenue. The city of Hollywood is among the most densely populated neighborhoods in all of Los Angeles, due to its numerous amenities and its close proximity to many employers. Because of its history and attractions like Walk of Fame and the Dolbe Theatre, Hollywood has always been the main attraction for tourists and now, home to many major entertainment companies like Netflix and CBS TV City. It is famous as the historical center of movie studios and move stars. Hollywood Boulevard is a Los Angeles cultural icon, with museums, landmarks and other attractions that celebrate L.A’s rich film and entertainment heritage. You can see handprints and footprints of the stars at the TCL Chinese Theatre, which is said to be one of the greatest theatres in the world, see the stars on the Hollywood Walk of Fame, or visit the famous celebrity Hollywood Wax Museum. You can definitely find a day’s work of activities that will give you the true experience of Hollywood and all it has to offer. If you want great shopping, dining and entertainment, visit Hollywood & Highland, which is in the heart of all the attractions and home to Dolby Theatre. This complex has more than 70 retailers, more than 25 dining options, and a great nightlife, including a bowling alley called Lucky Strike and OHM nightclub. They also have a family friendly arcade center located within the structure called Dave and Busters. Hollywood & Highland also has Metro Rail Red Line station underneath it, as well as parking making it easy and affordable to visit from all places in Los Angeles. Built in 1954, this property contains an ideal unit mix of six (6) one-bedroom / one-bathroom units and two (2) two-bedroom / one-bathroom units. One (1) unit will be delivered vacant. Select units have been remodeled. There is a total of six (6) covered parking spaces that can potentially be converted into multiple ADU unit(s). The property boasts charming Mid-Century architecture that is separately metered for gas and electricity. Significant upgrades have been made to this asset such as copper plumbing throughout and new electrical panels. There is also a separate laundry facility for tenant use. Residents will love living in one of the most well known pockets within Los Angeles, which is only a blocks away from the Hollywood Boulevard, Sunset Strip, numerous fashion and art stores, and an abundance of restuarant and entertainment amenities. Hollywood also attracts many young professional who wish to work in the film, fashion, or art industries. Located in the coveted 90046 zip code of prime Hollywood, this offering presents an excellent opportunity for any investor to acquire pride of ownership Mid-Century and capitalize on strong rental upside and ADU potential.