Sunset Legacy Collection — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90046

Investment Figures

Cap rate
5.34%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively present 1530 N. Formosa Avenue—a 10-unit multifamily investment in prime West Hollywood featuring strong in-place income, an attractive unit mix, and long-term fixed financing. 1530 N. Formosa Avenue is a rare opportunity to acquire a 10-unit multifamily asset in the heart of West Hollywood with a financing profile and capital improvements that fundamentally de-risk the investment while preserving upside. Offered at $3,300,000, the property is anchored by assumable financing at 3.74%—providing a cost of capital advantage that is virtually impossible to achieve in today’s market. This below-market debt structure enhances cash flow from day one and creates long-term financial certainty. The loan carries a 3.74% fixed interest rate through June 2027, after which it adjusts to 2.50% + SOFR. Based on current forward projections, this equates to an estimated all-in rate of approximately 5.5%, with expectations that SOFR will gradually decline over time. Equally important, the asset has already undergone major capital improvements, including a Soft Story Seismic Retrofit, horizontal repiping, and a new roof—significantly reducing future capital expenditure risk and allowing new ownership to focus on income growth rather than infrastructure. The property features a highly desirable mix of one- and two-bedroom units, catering to a broad and stable tenant base in a market defined by strong demand and limited supply. Positioned just moments from Sunset Boulevard and major employment and entertainment hubs, the asset benefits from consistent tenant demand and long-term rent growth. This is not a heavy lift or speculative repositioning—this is a clean, stabilized asset with major systems already addressed and long-term debt in place, offering investors both immediate performance and future upside. In a market where most acquisitions require either higher-cost debt or significant capital investment, 1530 N. Formosa delivers both financ

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 5.3% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.3% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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