1643 N Formosa Ave

FIRST TIME ON MARKET IN 25 YEARS... 1643 N Formosa Ave is a charming 8-unit apartment building located in Hollywood. Built in 1954, this well-maintained property is comprised of (6) one-bedroom / one-bathroom units and (2) two-bedroom / one-bathroom units. Additionally (2) of the 1-bedroom units will be delivered vacant, with one of them being completely remodeled. There are a total of (6) covered parking spaces with strong ADU potential, plus a community laundry room which provides additional income. The units are also separately metered for gas and electricity. The property has seen significant upgrades in recent years, such as new electrical panels and copper plumbing throughout. The property is also fully gated and secured with an electronic keypad in the driveway. The property is conveniently located just below Hollywood Blvd and one block West of La Brea Ave. Located in the prime 90046 zip code of Hollywood, this asset presents investors with an excellent opportunity to acquire a well maintained Mid-Century apartment building and capitalize on solid rental upside and detached ADU potential.