NOT LISTED FOR SALE

1243 N Formosa Ave West Hollywood, CA 90046

Estimated Value: $2,048,631 - $2,569,000

5 Beds
3 Baths
2,208 Sq Ft
$1,045/Sq Ft Est. Value

Last Sold August 11, 2017

Last sale price $1,650,000 $747 Per Sq Ft

Est. 40% increase in value since last sale

Current estimated payment $14,521/month

61 Days on Market

Highlights

  • Wood Flooring
  • Forced Air Heating System
  • 3-minute walk to Formosa Park

About This Home

As of August 2017

Probate Sale Subject to court approval and overbidding in court. Property currently under contract. The asking price is the 1st minimum overbid price for the subject property. Court confirmation is scheduled for Thursday, July 6th, 2017 at 8:30am in Dept. 79, at the LA Superior Court, Stanley Mosk Courthouse in Downtown LA. All interested over-bidders must bring a cashier's check in the amount of $149,675. payable to the "Jeffrey Siegel, Successor Trustee of the Edwards Family Trust" per Probate Court Case No. BP 166394, to the Court to qualify to overbid. Property sold "AS IS" and "WHERE IS", with existing tenants in place. For Sale after 8 decades! Seller is a Court appointed fiduciary for the subject Estate, and cannot make any representations. Buyer to conduct their own investigations. DRIVE BY ONLY. Please DO NOT disturb the tenants. SALE CONFIRMED IN COURT ON JULY 6TH, 2017

Last Agent to Sell the Property

Vinny Jain

Ingenious Asset Group, Inc. License #01413466 Listed on: 03/17/2017

Last Buyer's Agent

Vinny Jain

Ingenious Asset Group, Inc. License #01413466 Listed on: 03/17/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $23,636

Year Built

  • Built in 1923

Lot Details

  • 6,739

Home Design

  • 2,208 Sq Ft Home
  • Triplex
  • Slab Foundation
  • Composition Roof
  • Stucco

Flooring

  • Wood
  • Linoleum
  • Tile
  • Vinyl

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Bathrooms

Parking

  • 3 Parking Spaces
  • Driveway
  • On-Street Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Forced Air Heating System

Additional Features

  • Laundry in unit
  • 6,739 Sq Ft Lot

Community Details

  • 3 Units

Listing and Financial Details

  • Assessor Parcel Number 5531-007-042

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$23,636

Year Built

Built in 1923

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Street Number Display: Yes
  • Living Area: 2208
  • Probate: Yes
  • Year Built: 1923
  • Number Of Photos: 6
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Flooring: Hardwood, Linoleum, Tile, Vinyl
  • Bedrooms: 5
  • Dining Room: 0
  • Family Room: 0
  • Laundry: In Unit
  • Total Bathrooms: 3.00
  • Den: 0
  • Price Per S Q F T: 677.88

Exterior Features

  • Construction: Stucco
  • Tennis Court Y/N: No
  • Foundation Details: Slab
  • Construction: Frame and Stucco
  • Pool: No
  • Roof: Composition

Garage/Parking

  • Parking Garage: Driveway, On street
  • Total Parking: 3

Utilities

  • Cooling: Wall/Window
  • Electric Expense: 150.00
  • Heating: Forced Air
  • Water Expense: 680.00

Fee Information

  • Insurance Expense: 2000.00
  • Maintenance Expense: 6700.00

Lot Info

  • Assessed Improvement Value: 203050
  • Assessed Land Value: 1421350
  • Assessor Parcel Number: 5531-007-042
  • Geocode Override: No
  • Lot Size Area: 6739

Rental Info

  • Court Approve: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108
  • Gross Rent Multiplier: 20.06
  • Number Of Units: 3
  • Rent Control: 100
  • Total Annual Expense: 26809
  • Type Of Units: Tri-plex
  • Vacancy Rate: 35%

Tax Info

  • Tax Expense: 15694.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 17, 2017
Closed on
Jul 17, 2017
Sold by
Siegel Jeffrey and Edwards Family Trust
Bought by
R4 Property Group Llc
Seller's Agent
Vinny Jain
Ingenious Asset Group, Inc.
Buyer's Agent
Vinny Jain
Ingenious Asset Group, Inc.
List Price
$1,496,750
Sold Price
$1,650,000
Premium/Discount to List
$153,250
10.24%
Current Estimated Value
$2,307,908

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$657,908
Avg. Annual Appreciation
4.36%

Purchase Details

Closed on
Nov 23, 2015
Sold by
Siegel Jeffrey and Edwards Family Trust
Bought by
Siegel Jeffrey and Administrative Trust C Under T

Purchase Details

Closed on
Jan 23, 2002
Sold by
Edwards Robert C
Bought by
Edwards Robert C and Edwards Laverene R
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
R4 Property Group Llc $1,650,000 Old Republic Title Company
Siegel Jeffrey -- None Available
Edwards Robert C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Rothwell Ian H $400,000
Closed R4 Property Group Llc $50,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/11/2017 08/11/17 Sold $1,650,000 +10.2% $747 / Sq Ft
06/22/2017 06/22/17 Price Changed $1,496,750 0.0% $678 / Sq Ft
06/22/2017 06/22/17 For Sale $1,496,750 +7.3% $678 / Sq Ft
05/17/2017 05/17/17 Pending -- -- --
03/17/2017 03/17/17 For Sale $1,395,000 -- $632 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

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 $23,636 $1,877,416 $1,877,416 --
2024 $23,636 $1,840,604 $1,840,604 --
2023 $23,124 $1,804,514 $1,804,514 $0
2022 $21,849 $1,769,132 $1,769,132 $0
2021 $21,610 $1,734,444 $1,734,444 $0
2020 $21,947 $1,716,660 $686,664 $1,029,996
2019 $20,942 $1,683,000 $673,200 $1,009,800
2018 $20,773 $1,650,000 $660,000 $990,000
2016 $20,352 $1,624,400 $1,421,350 $203,050
2015 $2,261 $79,313 $50,773 $28,540
2014 $2,273 $77,760 $49,779 $27,981
Source: Public Records

Agents Affiliated with this Home

  • Vinny Jain

    Seller's Agent in 2017

    Vinny Jain

    Ingenious Asset Group, Inc.

    (310) 997-2552

    78 Total Sales

    Vinny Jain
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Map

Source: The MLS

MLS Number: 17-210084

The MLS

APN: 5531-007-042

California Los Angeles County West Hollywood 90046

1243 N Formosa Ave, West Hollywood, CA

This home is located at 1243 N Formosa Ave, West Hollywood, CA 90046 since 17 March 2017 and is currently estimated at $2,307,908, approximately $1,045 per square foot. This property was built in 1923. 1243 N Formosa Ave is a home located in Los Angeles County with nearby schools including Gardner Street Elementary School, Hubert Howe Bancroft Middle School, and Hollywood Senior High School.

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