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1406 N Formosa Ave, Los Angeles, CA 90046
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1406 N Formosa Ave Los Angeles, CA 90046

$1,800,000 Sold Price as of 02/15/2022
  • 10 Beds
  • 10 Baths
  • 3,882 Sq.Ft.
Sold
$1,800,000 Sold Price as of 02/15/2022 Refinance Your Mortgage
Map preview of 1406 N Formosa Ave, Los Angeles, CA 90046

Property Overview: 1406 N Formosa Ave Los Angeles, CA has 10 bedrooms, 10 bathrooms, 3,882 living square feet and 7,878 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Beautiful 4 units apartment building with a 95 Walk score. All 1 bedroom, 1 Bath, with nearly 950 sq of space. Some updated units with new kitchen and bath. Great investment for a First time buyer to live in one and collect rent on the rest. Spanish Style property near all the new Sunset developments. Area is on fire with all new buildings, yet maintaining the old world Charm. Each unit comes with a garage. Value also in development. R3 Lot with great potential for developers. One unit will be vacant on February 15 and another one might be available by Mid March. Owner can rent them during escrow or deliver the vacant units to buyer. A great way to protect your money from inflation.

Listed by Shawn Esrawi | BRE #01221935 | Millennium R.E. Development
Last checked: 11 minutes ago | Last updated: March 23rd, 2022 | Source CRMLS | DOM: 3

Home details

Lot Sq. Ft
7,878
HOA Dues
$0/mo
Year built
1922
Garage
4 Car
Property Type:
Multi Family
Status
Sold
MLS#
22121867
City
Los Angeles
County
Los Angeles
Time on Site
844 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 4
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,238
  • Total Rent: $1,238
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,450
  • Total Rent: $2,450
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 3
  • # of Units: 3
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,975
  • Total Rent: $1,975
  • Pro Forma/Market Rent: $2,450
Unit Breakdown 4
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $2,050
  • Total Rent: $2,050
  • Pro Forma/Market Rent: $2,450
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: 18.8
  • Gross Scheduled Income: --
  • Net Operating Income: $73,742
  • Gross Operating Income: $92,556
Annual Expense Breakdown
  • Total Operating Expense: --
  • Electric: $250
  • New Taxes: $6,646
  • Trash: $80
  • Gardener: $1,015
  • Insurance: $2,199
  • Maintenance: $4,491
  • Water/Sewer: $2,700

Virtual Tour

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Property Details for 1406 N Formosa Ave

Interior Features
Fireplace Information
  • No Fireplace
  • None
Room Information
  • Flooring: Wood, Tile
Kitchen Information
  • Has Appliances
  • Disposal
Interior Features
  • Levels: One
  • Window Features: French/Mullioned
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 4
  • # of Parking Spaces: 4
  • Has Parking
  • Parking Features: Detached Carport, Garage
Property Information
  • Total # of Units: 4
  • Parcel Number: 5548018036
  • Architectural Style: Spanish
  • Foundation Details: Raised
  • Property Condition: Updated/Remodeled
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Other
Location / Neighborhood
Location Information
  • Directions: South of Sunset, West of La Brea
View more facts & features

Local Los Angeles Agent

Sale History for 1406 N Formosa Ave

Last sold for $1,800,000 on February 15th, 2022

  • February, 2022

  • Feb 15, 2022

    Date

    Sold

    CRMLS: 22121867

    $1,800,000

    Price

  • Jan 26, 2022

    Date

    Active

    CRMLS: 22121867

    $1,749,000

    Price

  • May, 1999

  • May 25, 1999

    Date

    Sold (Public Records)

    Public Records

    $358,500

    Price

Show More

Tax History for 1406 N Formosa Ave

Assessed Value (2020): $514,444
Year Land Value Improved Value Assessed Value
2020 $369,830 $144,614 $514,444

Home Value Compared to the Market

This property vs the competition

1406 N Formosa Ave sold on February 15, 2022 for 46.97% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $450.54 per/sqft which puts the price per square foot 40.33% lower than the current median sale per square foot for the city of Los Angeles.

About 1406 N Formosa Ave

Detailed summary of property

1406 N Formosa Ave is a multi family that recently sold in Los Angeles, CA 90046. This multi family property offered 10 bedrooms, 10 bathrooms, roughly 3,882 living square feet, and sits on an approximately 7,878 square foot lot. 1406 N Formosa Ave was first listed on ArdentRealEstateGroup.com on January 26, 2022. The homeowner sold the property for $1,800,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 46.97% higher than the current median priced home. Local homes that are currently for sale include 610 N Spaulding Ave, 445 N Spaulding Ave and 454 N Genesee Ave. While the average home in Los Angeles, CA is selling in 92 days, 1406 N Formosa Ave has a days on market of 3 days. There are currently 3712 homes for sale in the Los Angeles real estate market and 2493 of them are single family homes while 1120 of them are condos and 93 are townhomes. For more information on this home for sale at 1406 N Formosa Ave Los Angeles, CA 90046 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1406 N Formosa Ave

Public county record property details
Beds
4
Baths
4
Year built
1922
Sq. Ft.
3,882
Lot Size
7,877
Stories
--
Type
Quadruplex (4 Units, Any Combination)
Pool
No
Spa
No
County
Los Angeles
Lot#
--
APN
5548-018-036

The source for these homes facts are from public records.

90046 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,965,000
Median List Price/Sq.Ft.
$938
Median Sold Price
$2,000,000
Median Sold Price/Sq.Ft.
$856
Total Inventory
231
Median Sale to List Price %
117.72%
Avg Days on Market
34
Loan Type
Conventional (2.7%), FHA (0%), VA (0%), Cash (13.51%), Other (2.7%)

Thinking of Selling?

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Thinking of Selling?
Call, Text or Message
(714) 706-1823

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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