NOT LISTED FOR SALE

351 N Formosa Ave Los Angeles, CA 90036

Melrose Neighborhood

Estimated Value: $3,389,000 - $4,853,000

5 Beds
4 Baths
5,243 Sq Ft
$758/Sq Ft Est. Value

Last Sold August 03, 2017

Last sale price $2,620,000 $500 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $23,788/month

10 Days on Market

Highlights

  • Detached Guest House
  • Views of Trees
  • Wood Flooring
  • In Ground Pool
  • Maid or Guest Quarters
  • Spanish Architecture

About This Home

As of August 2017

Remodel + addition circa 2003. 5243 square foot two story Spanish in prime location. Generous living room with fireplace and picture window to street. Formal dining room with ornate wood floor. Huge center island chef's kitchen overlooks pool. Large breakfast area + family room with built-ins off the kitchen. Maids suite + library w/ wet bar & built-in bookcases down. Elevator! 4 bedroom suites upstairs. Master w/ separate walk-in closets, full bath w/ sunk-in spa tub. Private backyard with pool + jacuzzi + deck with built-in BBQ and sink. Detached garage converted to back house. Circular driveway in front of house for lots of off street parking. House is tenant occupied until June 20, 2017 for 10,000/month. Tenant would love to keep renting for multiple years into the future.

Last Agent to Sell the Property

Sheri Bienstock

The Bienstock Group License #01746994 Listed on: 04/21/2017

Last Buyer's Agent

Sheri Bienstock

The Bienstock Group License #01746994 Listed on: 04/21/2017

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $35,716

Year Built

  • Built in 1933

Lot Details

  • 7,699 Sq Ft Lot
  • Property is zoned LAR1

Property Views

  • Trees
  • Pool

Home Design

  • Spanish Architecture

Interior Spaces

  • 5,243 Sq Ft Home
  • 1-Story Property
  • Built-In Features
  • Decorative Fireplace
  • Family Room
  • Living Room with Fireplace
  • Dining Room
  • Home Office
  • Library
  • Utility Room
  • Laundry Room
  • Breakfast Area or Nook

Flooring

  • Wood
  • Tile

Bedrooms and Bathrooms

  • 5 Bedrooms
  • Powder Room
  • Maid or Guest Quarters
  • 4 Full Bathrooms

Parking

  • 2 Parking Spaces
  • Converted Garage
  • Circular Driveway

Pool

  • In Ground Pool
  • In Ground Spa

Additional Features

  • Covered Patio or Porch
  • Detached Guest House
  • Central Heating and Cooling System

Community Details

  • No Home Owners Association
  • Service Entrance

Listing and Financial Details

  • Assessor Parcel Number 5525-035-004

Home Details

Home Type

Single Family

Est. Annual Taxes

$35,716

Year Built

Built in 1933

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub Type: Single Family Residence
  • Style: Spanish
  • Street Number Display: Yes
  • Living Area: 5243
  • Lot Dimensions: A.0.1768
  • Stories: 1
  • Year Built: 1933
  • State Abbrv: CA
  • Special Features: None

Interior Features

  • Fireplace Rooms: Decorative, Living Room
  • Flooring: Hardwood, Tile
  • Bedrooms: 5
  • Fireplaces: 1
  • Full Bathroom: 4
  • Half Bathroom: 0
  • One Quarter Bathrooms: 0
  • Three Quarter Bathrooms: 0
  • Laundry: Laundry Area
  • Maids Room: 1
  • Total Bathrooms: 4.00
  • Equipment: Built-Ins
  • Fireplace: Yes
  • Price Per S Q F T: 476.83

Exterior Features

  • Tennis Court Y/N: No
  • Guest House: Detached
  • Pool Description: In Ground
  • Pool: Yes
  • Spa: In Ground
  • Spa Yn: Yes
  • View: Pool, Tree Top
  • View: Yes

Garage/Parking

  • Parking Garage: Circular Driveway
  • Total Parking: 2

Utilities

  • Cooling: Central
  • Heating: Central

Condo/Co-op/Association

  • HOA: No

Lot Info

  • Assessor Parcel Number: 5525-035-004
  • Geocode Override: No
  • Lot Size Area: 7699

Multi Family

  • Number Of Units: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 11, 2017
Sold by
Pelman Judith
Bought by
Weiss Nathan and Weiss Gitty Treitel
Current Estimated Value
$3,976,019

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,650,000
Interest Rate
3.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 23, 2007
Sold by
Pelman Elias S and Pelman Judith
Bought by
Pelman Elias S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
7.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 20, 2007
Sold by
Pelman Elias S and Pelman Judith
Bought by
Pelman Elias S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,000,000
Interest Rate
7.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 7, 2005
Sold by
Pelman Elias S and Pelman Judith
Bought by
Pelman Elias S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,100,000
Interest Rate
1%
Mortgage Type
Negative Amortization

Purchase Details

Closed on
Oct 11, 2005
Sold by
Pelman Elias S and Pelman Judith
Bought by
Pelman Elias S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,100,000
Interest Rate
1%
Mortgage Type
Negative Amortization
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Weiss Nathan $2,620,000 Provident Title Company
Pelman Elias S -- Accommodation
Pelman Elias S -- Alliance Title Company
Pelman Elias S -- Investors Title Company
Pelman Elias S -- Investors Title Company
Pelman Elias S -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Weiss Nathan $1,650,000
Previous Owner Pelman Elias S $2,000,000
Previous Owner Pelman Elias S $1,100,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/03/2017 08/03/17 Sold $2,620,000 +4.8% $500 / Sq Ft
05/01/2017 05/01/17 Pending -- -- --
04/21/2017 04/21/17 For Sale $2,500,000 0.0% $477 / Sq Ft
06/03/2013 06/03/13 Rented $10,000 0.0% --
06/03/2013 06/03/13 Under Contract -- -- --
11/09/2012 11/09/12 For Rent $10,000 -- --
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 $35,716 $2,981,107 $1,865,241 $1,115,866
2024 $35,716 $2,922,655 $1,828,668 $1,093,987
2023 $35,024 $2,865,349 $1,792,812 $1,072,537
2022 $33,393 $2,809,166 $1,757,659 $1,051,507
2021 $32,975 $2,754,086 $1,723,196 $1,030,890
2019 $31,985 $2,672,400 $1,672,086 $1,000,314
2018 $31,787 $2,620,000 $1,639,300 $980,700
2016 $7,732 $624,507 $153,245 $471,262
2015 $7,621 $615,128 $150,944 $464,184
2014 $7,651 $603,080 $147,988 $455,092
Source: Public Records

Agents Affiliated with this Home

  • Sheri Bienstock

    Seller's Agent in 2017

    Sheri Bienstock

    The Bienstock Group

    (323) 310-2525

    39 in this area

    217 Total Sales

    Sheri Bienstock
    Section Image

  • C

    Seller's Agent in 2013

    Carol Dotson

    Pacific Sotheby's Int'l Realty

    Section Image

  • A

    Seller Co-Listing Agent in 2013

    Adam Lint

    Pacific Sotheby's Int'l Realty

    Section Image
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Map

Source: The MLS

MLS Number: 17-222730

The MLS

APN: 5525-035-004

California Los Angeles County Los Angeles 90036 Melrose

351 N Formosa Ave, Los Angeles, CA

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