$3,750,000843 N Formosa Ave

New

843 N Formosa Ave, Los Angeles, CA, 90046

$3,750,000

Est. Monthly Price:

0.35 Acres
Land
Schools Nearby
Image provided by Mapbox

Property Facts and Features

Home TypeOther

MLS #22200205

Lot Size0.35 Acres

StatusActive

About 843 N Formosa Ave, Los Angeles, CA, 90046

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!

Exterior Features

  • Lot Size:

    0.35 Acres

Other

  • Originating MLS:

    CRMLS
  • MLS Number:

    22200205
  • Directions:

    North of Melrose Ave and West of La Brea Ave.
  • Listing Office:

    Keller Williams Beverly Hills
  • Listing Agent:

    Dario Svidler
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Los Angeles Housing Market Report

Sold Prices For All Homes in Los Angeles

This Home$3.7M
$195K$27.0M

The Median Sold Price for All Homes in Los Angeles is $971.2K

Based on homes sold in the last 12 months

See Los Angeles Housing Market Report

IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/27/2022, 12:25:09 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Tax History for 843 N Formosa Ave, Los Angeles, CA, 90046

YEARPROP. TAXASSESSMENT
2021$1,705$108,212
2020$1,663$107,103
2019$1,519$105,004
2018$1,493$102,946
2017$1,493$100,929

Info iconHistory based on county public records data.

What's it like to live at 843 N Formosa Ave, Los Angeles, CA, 90046?

Schools Near 843 N Formosa Ave, Los Angeles, CA, 90046

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Outlined schools indicate they are assigned to this listing.

Elementary

9

Melrose Avenue Elementary School Melrose Avenue Elementary School url

731 N Detroit St0.17 mi

Public Magnet KG-6

9

Academy For Enriched Sciences Academy For Enriched Sciences url

6170 Lockhurst Dr18.43 mi

Public Magnet 1-5

8

Point Fermin Elementary School Point Fermin Elementary School url

3333 S Kerckhoff Ave25.93 mi

Public Magnet KG-5

Middle

3

Laurel Elementary School Laurel Elementary School url

925 N Hayworth Ave0.95 mi

Public District KG-8

4

Studio Studio url

2211 W Avenue 306.42 mi

Public District 6-8

2

Hubert Howe Bancroft Middle School Hubert Howe Bancroft Middle School url

929 N Las Palmas Ave0.55 mi

Public Magnet 6-8

High

7

Fairfax Senior High School Fairfax Senior High School url

7850 Melrose Ave0.78 mi

Public Magnet 9-12

8

Math, Science, & Technology Magnet Academy at Roosevelt High School Math, Science, & Technology Magnet Academy at Roosevelt High School url

456 S Mathews St8.42 mi

Public Magnet 9-12

7

Daniel Pearl Journalism & Communications Magnet Daniel Pearl Journalism & Communications Magnet url

6649 Balboa Blvd11.46 mi

Public Magnet 9-12

All data from Great Schools

What Are The Neighbors Like?

All data provided by Home Junction and Claritas

Similar Homes For Sale

Frequently Asked Questions About 843 N Formosa Ave, Los Angeles, CA, 90046

What is the listing price of this property?

The listing price of 843 N Formosa Ave property is $3,750,000.

What type of property is this?

The property 843 N Formosa Ave is land located in Los Angeles, California, 90046.

Is this property for sale now?

Active Listing: 843 N Formosa Ave is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 843 N Formosa Ave are:
Melrose Avenue Elementary School: GreatSchools Rating 9/10
Academy For Enriched Sciences: GreatSchools Rating 9/10
Point Fermin Elementary School: GreatSchools Rating 8/10
Laurel Elementary School: GreatSchools Rating 3/10
Studio: GreatSchools Rating 4/10
Fairfax Senior High School: GreatSchools Rating 7/10
Math, Science, & Technology Magnet Academy at Roosevelt High School: GreatSchools Rating 8/10
Daniel Pearl Journalism & Communications Magnet: GreatSchools Rating 7/10

What is the annual property tax for this property?

According to the records, the last property tax for 2021 is $1,705 (source: MLS/based on county public records data).

How much acreage is this property?

The property 843 N Formosa Ave is 0.35 acres.
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Rocket HomesCaliforniaLos Angeles CountyLos Angeles90046843 N Formosa Ave

This home is located at 843 N Formosa Ave in Los Angeles, CA and zip code 90046 in the Central LA neighborhood. This home sits on a 0.35 acre lot. It has been listed on Rocket Homes since September 23, 2022 and is currently priced at $3,750,000. The neighbors living near this home have an average income of $47,050.

In August 2022 in Los Angeles, CA there were 8% more homes for sale than in July 2022. While the average time on the market in August 2022 was 27 days, the median list price was $971,257. In August 2022 more than 706 listings in Los Angeles, CA were sold above the asking price. During the same period more than 238 listings were sold at asking price, while more than 671 were sold below. Typical income of Los Angeles, CA residents is between $35k-100k annually. Typical family type is single, no kids. Most residents in this area have post secondary degree education.

Info IconFrom Rocket Homes Real Estate and based on county public records data.