Stepp Commercial presents Sunset Formosa, a 36 unit, multifamily community located at 1522 N. Formosa Avenue in Hollywood, California. Situated just one block from both Hollywood and Sunset Boulevards, the property is in the heart of one of the most desirable submarkets in Los Angeles. Built in 1986, Sunset Formosa is not subject to rent control. In addition, the property has recently received approximately $550,000 in improvements.
With recent improvements, the Sunset Formosa has outstanding curb appeal, yet unit interiors have not had luxury remodeling. Existing rents are still significantly below market levels allowing opportunity for continued value enhancement. Sunset Formosa is located right on the border of Hollywood and West Hollywood, giving it easy access to all the amenities both cities have to offer. This neighborhood is rich in both culture and history and is surrounded by a myriad of restaurants, theaters, shopping, and nightlife. This is truly one of the most dynamic and desirable places for renters to live in all of Los Angeles, and not surprisingly, is also one of the strongest residential markets in the city.
Sunset Formosa is located right on the border of Hollywood and West Hollywood, giving it easy access to all the amenities both cities have to offer. This neighborhood is rich in both culture and history and is surrounded by a myriad of restaurants, theaters, shopping, and nightlife. This is truly one of the most dynamic and desirable places for renters to live in all of Los Angeles, and not surprisingly, is also one of the strongest residential markets in the city.
