843 N Formosa Ave Los Angeles, CA 90046

$--

4 Beds
2 Baths
2,254 Sq.Ft.

Off Market

Map preview of 843 N Formosa Ave, Los Angeles, CA 90046

Property Overview: 843 N Formosa Ave Los Angeles, CA has 4 bedrooms, 2 bathrooms, 2,254 living square feet and 7,700 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Home Value Compared to the Market

843 N Formosa Ave is currently an off market home in the city of Los Angeles. If you are considering making a home purchase, the value you pay for your home will depend on the market you're looking to purchase in. The city of Los Angeles has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768. With those numbers in mind, if you are looking to purchase a median priced home in Los Angeles, CA and put 20% down you will need to save up $240,000 for the down payment and will need roughly $24,000 for closing costs on top of the down payment. Homeowners who are looking to sell their home could expect to pay an average of 5% (2.5% to the listing agent and 2.5% to the buyers agent) in agent commissions when it comes to selling their home. With the median sale price for a home in Los Angeles the commission could be as much as $56,000. If you're thinking of selling and want to save, contact a local Ardent Real Estate Agent today.

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Sale History for 843 N Formosa Ave

View property's historical transactions

May, 2023
May 10, 2023

Date

Expired

CRMLS: 22220881

$1,650,000

Price
Nov 28, 2022

Date

Active

CRMLS: 22220881

$1,650,000

Price
Listing provided courtesy of CRMLS

Great opportunity to purchase a duplex in a highly desirable area in between Melrose Ave. and Santa Monica Blvd. This duplex has two 2bed/1bath units, and five covered garages! Both units to be delivered vacant and five garages will be delivered vacant! With a massive 7,700 SF R3-1XL lot, this parcel is great for redevelopment. The six unit apartment building right next door is also for sale - 837 N Formosa Ave. The properties can be purchased separately or together. Very unique opportunity to own two adjacent lots in Hollywood, with a combined 15,400 SF of land.

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November, 2022
Nov 27, 2022

Date

Expired

CRMLS: 22200205

$3,650,000

Price
Sep 15, 2022

Date

Active

CRMLS: 22200205

$3,750,000

Price
Listing provided courtesy of CRMLS

$100k REDUCTION! We are proud to exclusively present for sale two side-by-side residential income buildings in Los Angeles with great potential for redevelopment! These West Hollywood adjacent properties are as centrally located as centrally located gets, with easy access to all scales of dining, great nightlife, all the shopping on Melrose Ave. and Santa Monica Blvd. and just about anything a tenant could desire within a quick grasp! With a combined 15,400 SF of (Q)R3-1XL Tier 1 land, these properties are a great land-bank for your future, with income available right now. The Duplex features two side-by-side 2 bedroom, 1 bathroom units in a picturesque building dating to 1925. The two homes share a spacious 2,254 SF, five one car garages in back, and additional surface parking that can comfortably fit 4 cars. The Six Unit Building features six side-by-side units which are comprised of 2 studios and four 1 bed / 1 bath homes. The Building dates to 1930 and the units share 3,050 SF with six open air parking spaces in back. As a land-bank opportunity, the base density would translate to 12 units, while the Tier 1 TOC pushes that up to 20 units. There is always the potential to then add additional units through ADU permitting. WeHo-Adjacent with the City of LA's Building and Safety that allows for higher density. Just a hop and a skip to the West Hollywood Gateway Shopping Center with Target, Best Buy, dining and more, or head south to Melrose with all the nightlife that is on offer. Just down the street from the La Brea Corridor and Poinsettia Park. A very trendy neighborhood with strong demand from renters!

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Tax History for 843 N Formosa Ave

Assessed Value (2020): $107,103

Year	Land Value	Improved Value	Assessed Value
2020	$69,919	$37,184	$107,103

About 843 N Formosa Ave

Detailed summary of property

843 N Formosa Ave is categorized with a use code of Duplex (2 Units, Any Combination) in Los Angeles, CA 90046 and is currently off market. This property has 4 bedrooms, 2 bathrooms, roughly 2,254 living square feet, and sits on an approximately 7,700 square foot lot. Homes in Los Angeles are selling for a median price of $1,120,000 and a median price per square foot of $724. Local nearby listings include 6928 Clinton St, 602 N Martel Ave and 721 N Vista St. The average home in Los Angeles, CA is selling in 106 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. If you are the homeowner and looking to sell the home at 843 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 843 N Formosa Ave

Public county record property details

Beds: 4
Baths: 2
Year built: 1925
Sq. Ft.: 2,254
Lot Size: 7,700
Stories: --

Type: Duplex (2 Units, Any Combination)
Pool: No
Spa: No
County: Los Angeles
Lot#: 54
APN: 5525-002-007

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

$2,095,000

Median List Price/Sq.Ft.

$904

Median Sold Price

$1,188,800

Median Sold Price/Sq.Ft.

$773

Total Inventory

278

Median Sale to List Price %

95.1%

Avg Days on Market

Loan Type

Conventional (5.56%), FHA (0%), VA (0%), Cash (8.33%), Other (2.78%)

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(714) 706-1823

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