North of Sunset | 10 Units | Prime Location 1530 N Formosa Ave 10 Unit Apartment Building $4,293,903 CAD ($429,390 CAD/Unit) 5.69% Cap Rate Los Angeles, CA 90046

Prime Sunset Square / West Hollywood Adjacent Asset | 5.7% Cap Rate | Turnkey 10 Units
Beautifully positioned north of Sunset Boulevard in the heart of one of Los Angeles' most vibrant and sought-after rental markets, 1530 Formosa Avenue offers investors a rare combination of strong current cash flow, extensive capital improvements, and exceptional long-term appreciation potential.
This fully occupied 10-unit apartment community is being offered at an attractive 5.7% in-place cap rate and 12 GRM, delivering immediate, stable returns from day one. In a market where quality multifamily assets often trade at significantly lower yields, 1530 Formosa stands out as a compelling investment opportunity, combining strong in-place income with the security of a highly desirable location and a proven rental history.
Ideally situated just steps from neighborhood favorites including Bossa Nova, El Compadre, Aroma Coffee & Tea, and Sunset Boulevard's renowned dining and entertainment scene, residents enjoy an unmatched walkable lifestyle at the crossroads of Hollywood, West Hollywood, and the Sunset Strip. The property is minutes from Melrose Avenue, Beverly Hills, Runyon Canyon, major studios, and countless entertainment, media, and technology employers, making it a perennial favorite among high-income professionals seeking convenience, lifestyle, and connectivity.
The property features an excellent mix of spacious one- and two-bedroom units, many of which have been thoughtfully remodeled with contemporary finishes that appeal to today's renters. The combination of upgraded interiors, strong occupancy, and desirable unit layouts has resulted in consistent tenant demand and stable cash flow.
Ownership has invested significantly in the property's infrastructure, completing numerous major capital improvements that substantially reduce future ownership risk and near-term capital expenditures. Recent upgrades include a new roof, completed seismic retrofit, horizontal repiping, and updated electrical systems, positioning the asset as a true turnkey investment.
Further enhancing the opportunity is the availability of attractive assumable financing, providing buyers with access to a below-market debt structure that is increasingly difficult to obtain in today's lending environment. This financing advantage can significantly improve day-one cash flow and overall investment returns when compared to newly originated debt.
From a market perspective, opportunities to acquire stabilized multifamily assets north of Sunset Boulevard with a near-6% cap rate are increasingly rare. The property's irreplaceable location, strong in-place yield, extensive improvements, and walkable access to some of Los Angeles' most iconic lifestyle amenities create a compelling risk-adjusted investment profile for both private and institutional investors.
1530 Formosa Avenue can be acquired individually or as part of the Sunset Legacy Collection, a curated portfolio of premier multifamily assets located throughout West Hollywood, Beverly Hills-adjacent neighborhoods, Valley Village, and Pico/Robertson. Whether pursued as a standalone acquisition or portfolio investment, the property represents an exceptional opportunity to secure durable cash flow, strong ongoing tenant demand, and long-term value growth in one of Southern California's most coveted rental markets.
Investment Highlights
10 Units | 100% Occupied
5.7% In-Place Cap Rate
12.0 GRM
Many Units Beautifully Remodeled
New Roof
Completed Seismic Retrofit
Horizontal Repiping Completed
Updated Electrical Systems
Attractive Assumable Financing Available
Steps to Bossa Nova, El Compadre & Aroma Coffee
Walking Distance to Sunset Boulevard & West Hollywood
Minutes from Melrose Avenue, Beverly Hills & the Sunset Strip
Exceptional Day-One Cash Flow in a Premier Los Angeles Location