1629 N Formosa Avenue
Los Angeles, CA 90046
Listing broker / agent: Dana Brody · Dana Brody · CRMLS
MLS # 26101863 · Last checked Oct 21, 2026 08:07 UTC
About this property
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 details
- MLS number
- 26101863
- Status
- Active
- Type
- Residential Income
- Beds / baths
- 11 Beds • 9 Baths
- Living area
- 7,210 (area; units unconfirmed)
- Lot size
- 0.1614 acres
- Year built
- 1960
- Stories
- 2
More property detailsCollapse
Listing
- Days on market
- 8
Building
- Year built
- 1960
- Stories
- 2
- Building stories
- 2
- Levels
- Two
Bathrooms
- Full bathrooms
- 0
- Half bathrooms
- 0
- Three-quarter bathrooms
- 0
- Quarter bathrooms
- 0
Rooms & interior
- Appliances
- Dishwasher, Microwave
- Heating
- Forced Air
Exterior & parking
- Total parking spaces
- 9
- Parking
- Attached Carport
- Attached garage
- Yes
Fees & lease terms
- Association
- No
Nearby public schools
Nearby does not mean assigned. These are approximate straight-line distances from the property, not walking or driving routes. Confirm attendance boundaries, enrollment eligibility, grades and current school status directly with the district.
| School / district | Grades | Distance |
|---|---|---|
| Gardner Street Elementary (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–5 | 0.3 mi |
| Hollywood Senior High (school website, opens in a new tab) Los Angeles Unified · Los Angeles | 9–12 | 0.4 mi |
| Larchmont Charter (school website, opens in a new tab) Los Angeles Unified · West Hollywood | K–12 | 1.0 mi |
| Hubert Howe Bancroft Middle (school website, opens in a new tab) Los Angeles Unified · Los Angeles | 6–8 | 1.1 mi |
| Melrose Avenue Elementary (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–5 | 1.1 mi |
| Laurel Elementary (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–8 | 1.3 mi |
| Fairfax Senior High (school website, opens in a new tab) Los Angeles Unified · Los Angeles | 9–12 | 1.4 mi |
| Vine Street Elementary (school website, opens in a new tab) Los Angeles Unified · Los Angeles | K–6 | 1.4 mi |
Source: California Department of Education · 2025-26 school locations. Downloaded Oct 2, 2026 UTC. This annual snapshot may not reflect later changes. Public schools only; not a complete list of education options. No ratings or attendance assignments are provided.
Check the California School Directory ↗Price and tax history
Asking price
- Current asking price
- $2,895,000
- MLS-reported original asking price
- $2,895,000
| Observed (UTC) | Asking price |
|---|---|
| Oct 13, 2026 19:47 | $2,895,000 |
MLS values are reported for this listing, not prior sales. Observation dates show when our importer saw an asking price, not when the MLS changed it. Up to 24 observations are retained; changes between refreshes may be missed. This is not a complete price or sales history.
Property taxes
Tax history is not available from the imported listing data.
Source: MLS feed. Only supplied tax years are shown, up to 10 years; this is not a county tax archive. Amounts may be corrected and taxes may change after purchase. Verify assessments and current taxes with the county. These values do not automatically fill the payment calculator.
Market trends in Los Angeles
Active residential homes for sale in Los Angeles, CA, available through this website's authorized feed. Includes residential subtypes; excludes rentals. Not the entire market or a valuation of this property.
Observed price activity · past 30 days
558 currently active listings have an observed price-change pair ending in this period. A listing can appear in both counts.
Calculated 2026-10-21 08:21 UTC. Source: this website's authorized MLS inventory. Import progress, freshness rules and coverage affect the figures. Medians exclude missing/invalid values; price per sq ft is the median of individual listing ratios. Price observations are limited to the last 24 per listing and may miss changes between refreshes. This is not a complete 30-day market report, historical inventory trend, appreciation measure, or sold-price analysis.
Payment calculator
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Understanding homeownership costs — CFPB ↗