1629 N Formosa Avenue
Los Angeles, CA, 90046
$2,895,000
MLS: 26101863
Beds
11
Baths
9
Sq Ft
7,210
Lot
0.16 ac
Year Built
1960
MLS #
26101863
Days on Market
2
Listed
Oct 13, 2026
Description
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.
Location
Los Angeles, Los Angeles County, CA 90046
Open on Google Maps ↗Listed by: Dana Brody · Dana Brody
Listing information is provided courtesy of the Greater Antelope Valley Association of Realtors (GAVAR) and California Regional MLS (CRMLS). Information is deemed reliable but not guaranteed accurate by the MLS or by Mike Watson. All data, including square footage, lot size, room count, permits, and school assignment, should be independently verified. Properties shown may be listed by brokerages other than Keller Williams Realty. Listings are subject to prior sale, change, or withdrawal without notice.
Payment estimate
$22,441
/ month (est.)
Principal, interest, taxes, and insurance + PMI. Down payment: $289,500 · Loan: $2,605,500
Average 30-yr fixed rate 7.40% as of Oct 15, 2026 (Freddie Mac PMMS). Adjust to your quote.
- Principal & Interest
- $18,040
- Property tax (1.25%)
- $3,016
- Homeowners insurance
- $300
- Mortgage insurance
- $1,086
Login required. The full tool supports FHA / VA / USDA, PMI by credit tier, lender fees, and total cash to close — with your inputs here carried over.
Today's Rates
As of Oct 15, 2026
- 30-year fixed
- 7.40%
- 15-year fixed
- 6.71%
Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Updated weekly.
About the area · Mike Watson
About the Antelope Valley
The Antelope Valley spans Lancaster, Palmdale, Quartz Hill, Rosamond, Lake Los Angeles, California City, Edwards AFB, and the Plant 42 aerospace corridor. Mike Watson is a lifelong AV resident and the #1 producing individual Realtor in the region by transaction count. Every active listing on this site is paired with a free market analysis tailored to the specific street, honest financing guidance (FHA, VA, USDA, CalHFA, conventional, and assumable loans where the financing supports it), and side-by-side comparisons against the rest of the active inventory in your target ZIP.
Financing Options
FHA Financing — 3.5% Down＋
First-time and repeat buyers can purchase this Los Angeles home with as little as 3.5% down using an FHA loan — roughly $101,325 down. FHA loans feature flexible credit guidelines and government-backed rates, making homeownership accessible for buyers who haven't saved a large down payment. Seller concessions up to 6% of the purchase price are also allowed.
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Local Market Stats
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Median sold price, days on market, active inventory, price brackets, and 12-month trends — pulled live from the MLS.
★#1 Producing Individual Realtor, Antelope Valley
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