B
Landlord's Agent in 2023
Basya Gradon
Compass
(323) 447-7331
11 in this area
42 Total Sales
108 N Formosa Ave Los Angeles, CA 90036
Melrose NeighborhoodEstimated Value: $2,542,876 - $3,536,000
5
Beds
4.5
Baths
3,874
Sq Ft
$740/Sq Ft
Est. Value
Highlights
- Detached Guest House
- Maid or Guest Quarters
- Spanish Architecture
- Third Street Elementary School Rated A
- Wood Flooring
- Breakfast Area or Nook
About This Home
As of February 2023Magnificent Spanish with alluring Cali-style outdoor living & unique indoor/outdoor flow, 2-story guesthouse w luxury "Man Cave", & a 2-car garage. All rooms on the ground floor provide access to the outdoors, security cameras & speakers throughout the home. At the entrance is an inviting terra-cotta tiled front courtyard that leads to the front door. The foyer boasts winding stairs, stained-glass windows, & wood ceilings. The formal living room features wood-beamed ceilings, large windows, & a cozy gas fireplace. The light-filled formal dining room w coved ceilings leads to the loaded kitchen. The "Kosher" kitchen contains a full-size separate freezer & fridge, new countertops, & a half BA. A family room/den is accessible from the kitchen. Upstairs are the 3 BD & 2 BA. The primary BD boasts a sunlit reading area, 2 large custom closets - 1 walk-in, & an en-suite bath w a large shower & double vanity. The other 2 BDs are spacious w easy access to the 2nd full BA complete w a large soak tub & shower. The detached, 2-story guesthouse provides approx 1200 SF of living space + 2-car garage. The second level is a separate living area/apartment (approx 800 SF), newly renovated w high-end finishes - 1 BD (or office) 1 BA, living room w high ceilings, projection screen, surround sound + subwoofers, & kitchenette w Miele appliances. On the ground level is a laundry room w W/D, sink, built-in storage, & fridge. Another BD & full BA is behind the laundry room. All space is functional in the rear outdoor living - you'll find a built-in Viking grill + cook space & an enticing pergola providing a large area for outdoor dining. You MUST SEE the charm & character for yourself to appreciate. Make an appointment to view this exceptional Spanish dwelling built for someone w style & class.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $25,382
Year Built
- Built in 1929
Lot Details
- 6,600 Sq Ft Lot
- Lot Dimensions are 50x135
- Property is zoned LAR1
Parking
- 2 Car Garage
Home Design
- Spanish Architecture
Interior Spaces
- 3,874 Sq Ft Home
- 2-Story Property
- Built-In Features
- Gas Fireplace
- Family Room
- Living Room with Fireplace
- Formal Dining Room
- Property Views
Kitchen
- Breakfast Area or Nook
- Breakfast Bar
- Oven or Range
- Microwave
- Freezer
- Dishwasher
- Disposal
Flooring
- Wood
- Tile
Bedrooms and Bathrooms
- 5 Bedrooms
- Walk-In Closet
- Maid or Guest Quarters
Laundry
- Laundry Room
- Dryer
- Washer
Outdoor Features
- Open Patio
- Outdoor Grill
Additional Features
- Detached Guest House
- Forced Air Heating and Cooling System
Listing and Financial Details
- Security Deposit $23,990
- Tenant pays for cable TV, electricity, gas, water
- 12 Month Lease Term
- Assessor Parcel Number 5513-001-019
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Feb 27, 2014
Sold by
Rechnitz Yisroel Zev
Bought by
Rechnitz Yisroel Zev and Yisroel Zev Rechnitz Living Trust
Current Estimated Value
Purchase Details
Closed on
Aug 18, 2011
Sold by
Granitz Steve Alan
Bought by
Rechnitz Yisroel Zev and Rechnitz Avigail
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Interest Rate
1.87%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 11, 1999
Sold by
Gurfinkel Martin
Bought by
Granitz Steve Alan
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$576,000
Interest Rate
7.05%
Purchase Details
Closed on
Aug 13, 1996
Sold by
Gurfinkel Sam
Bought by
Gurfinkel Martin and Gurfinkel Candice
Purchase Details
Closed on
Jan 9, 1995
Sold by
Schoebaum Ellen Jane
Bought by
Gurfinkel Sam and Gurfinkel Renee
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$377,580
Interest Rate
4.95%
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Rechnitz Yisroel Zev | -- | None Available | |
| Rechnitz Yisroel Zev | $1,690,000 | Equity Title Los Angeles | |
| Granitz Steve Alan | $720,000 | Equity Title Company | |
| Gurfinkel Martin | -- | -- | |
| Gurfinkel Sam | $420,000 | Equity Title Co |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Previous Owner | Rechnitz Yisroel Zev | $1,000,000 | |
| Previous Owner | Granitz Steve Alan | $576,000 | |
| Previous Owner | Gurfinkel Sam | $377,580 | |
| Closed | Granitz Steve Alan | $72,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/28/2023 02/28/23 | Rented | $11,000 | -8.3% | -- |
| 02/24/2023 02/24/23 | Under Contract | -- | -- | -- |
| 01/05/2023 01/05/23 | For Rent | $11,995 | +59.9% | -- |
| 07/02/2012 07/02/12 | Rented | $7,500 | 0.0% | -- |
| 07/02/2012 07/02/12 | Under Contract | -- | -- | -- |
| 06/05/2012 06/05/12 | For Rent | $7,500 | -- | -- |
Source: The MLS
Tax History Compared to Growth
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $25,382 | $2,122,725 | $1,380,400 | $742,325 |
| 2024 | $25,382 | $2,081,104 | $1,353,334 | $727,770 |
| 2023 | $24,890 | $2,040,299 | $1,326,799 | $713,500 |
| 2022 | $23,731 | $2,000,294 | $1,300,784 | $699,510 |
| 2021 | $23,440 | $1,961,074 | $1,275,279 | $685,795 |
| 2019 | $22,736 | $1,902,909 | $1,237,454 | $665,455 |
| 2018 | $22,607 | $1,865,598 | $1,213,191 | $652,407 |
| 2016 | $21,625 | $1,793,156 | $1,166,082 | $627,074 |
| 2015 | $21,307 | $1,766,222 | $1,148,567 | $617,655 |
| 2014 | $21,370 | $1,731,625 | $1,126,069 | $605,556 |
Source: Public Records
Agents Affiliated with this Home
-
Basya Gradon
-
Leah Brenner Naomi Hartman
Seller's Agent in 2012
Leah Brenner Naomi Hartman
Coldwell Banker Realty
(323) 860-4245
4 in this area
22 Total Sales
-
Naomi Hartman
Seller Co-Listing Agent in 2012
Naomi Hartman
Coldwell Banker Realty
(323) 462-0867
4 in this area
19 Total Sales
-
Tracey Jacoby
Buyer's Agent in 2012
Tracey Jacoby
Douglas Elliman
(310) 888-3796
2 Total Sales
Map
Source: The MLS
MLS Number: 23-228711
APN: 5513-001-019
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© 2025 The MLS™ - Combined L.A. Westside MLS (CLAW). All rights reserved. Based on information from The MLS™ - Combined L.A. Westside MLS (CLAW). 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. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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