Seller's Agent in 2023
Molly First
Lyon Stahl Investment Real Estate, Inc.
(310) 913-2488
1 in this area
17 Total Sales
711 N Formosa Ave Los Angeles, CA 90046
Melrose NeighborhoodEstimated Value: $1,190,000 - $1,755,701
4
Beds
4
Baths
2,367
Sq Ft
$615/Sq Ft
Est. Value
Highlights
- Corner Lot
- No HOA
- 1-Story Property
- Private Yard
- Laundry Room
About This Home
As of December 2023This exceptional SB8-exempt vacant duplex stands as a canvas of possibilities, offering a rare chance for developers or discerning homeowners seeking to redefine this property into a modern haven or a savvy investment opportunity. The front house, though challenged by extensive fire damage, opens doors to a transformative vision. Nestled in the heart of the sought-after Fairfax District, just off Melrose, the property boasts an esteemed address.
Notably, neither unit is subject to rent control, a rare attribute in the current market. The rear house was constructed in the 1980s, and the front unit was owner-occupied. This provides you with the flexibility to either embark on a new construction project to create two additional duplexes, forming an impressive 4-plex, or to embark on a renovation journey that promises to elevate the property's value to an impressive After Repair Value (ARV) of $2,000,000.
Offering a combined living space of 2,367 square feet, all set on a generous 5,605 square foot R2 lot, this property boasts not only tremendous potential but also an enviable location. The location of this property is truly outstanding, as it is conveniently situated near a highly-regarded school and boasts an outstanding walkability score. Enjoy the benefits of being just steps away from the vibrant Melrose Avenue, home to a plethora of remarkable restaurants and cafes, while also being a short drive from renowned destinations like The Grove, Beverly Hills, West Hollywood, and the prestigious Cedars Sinai Medical Center. Plus, the convenience of nearby grocery stores and more further adds to the allure of this promising real estate opportunity.
Last Agent to Sell the Property
Lyon Stahl Investment Real Estate, Inc. License #02065583 Listed on: 10/26/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,595
Year Built
- Built in 1923
Lot Details
- 5,607 Sq Ft Lot
- No Common Walls
- Corner Lot
- Private Yard
- Lawn
Home Design
- Duplex
Interior Spaces
- 2,367 Sq Ft Home
- 1-Story Property
- Living Room with Fireplace
Bedrooms and Bathrooms
- 4 Main Level Bedrooms
- 4 Full Bathrooms
Laundry
- Laundry Room
- Gas Dryer Hookup
Outdoor Features
- Exterior Lighting
Community Details
- No Home Owners Association
- 2 Units
Listing and Financial Details
- Tax Lot 72
- Tax Tract Number 6005
- Assessor Parcel Number 5525011011
- $400 per year additional tax assessments
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Dec 16, 2024
Sold by
Golban David and Reznik Irina
Bought by
Golban Family Trust and Moghaddam
Current Estimated Value
Purchase Details
Listed on
Oct 26, 2023
Closed on
Dec 22, 2023
Sold by
Romanelli Annabella and Romanelli Michel
Bought by
Reznik Irina and Golban David
Seller's Agent
Molly First
Lyon Stahl Investment Real Estate, Inc.
Buyer's Agent
Bobby Sillman
Lyon Stahl Investment Real Estate, Inc.
List Price
$1,400,000
Sold Price
$1,100,000
Premium/Discount to List
-$300,000
-21.43%
Views
159
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.91%
Purchase Details
Closed on
Feb 6, 2002
Sold by
Delport Annabella and Carta Attilio
Bought by
Delport Michel and Delport Annabella
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 |
|---|---|---|---|
| Golban Family Trust | -- | None Listed On Document | |
| Golban Family Trust | -- | None Listed On Document | |
| Reznik Irina | $1,100,000 | Chicago Title Company | |
| Delport Michel | $175,000 | -- |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/29/2023 12/29/23 | Sold | $1,100,000 | 0.0% | $465 / Sq Ft |
| 12/21/2023 12/21/23 | Off Market | $1,100,000 | -- | -- |
| 12/18/2023 12/18/23 | Price Changed | $1,300,000 | -7.1% | $549 / Sq Ft |
| 11/28/2023 11/28/23 | For Sale | $1,400,000 | +27.3% | $591 / Sq Ft |
| 11/22/2023 11/22/23 | Off Market | $1,100,000 | -- | -- |
| 11/01/2023 11/01/23 | For Sale | $1,400,000 | +27.3% | $591 / Sq Ft |
| 10/30/2023 10/30/23 | Off Market | $1,100,000 | -- | -- |
| 10/26/2023 10/26/23 | For Sale | $1,400,000 | -- | $591 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
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 | $13,595 | $1,122,000 | $897,600 | $224,400 |
| 2024 | $13,595 | $1,100,000 | $880,000 | $220,000 |
| 2023 | $2,118 | $143,125 | $41,440 | $101,685 |
| 2022 | $2,035 | $140,320 | $40,628 | $99,692 |
| 2021 | $1,996 | $137,570 | $39,832 | $97,738 |
| 2020 | $2,010 | $136,160 | $39,424 | $96,736 |
| 2019 | $1,944 | $133,491 | $38,651 | $94,840 |
| 2018 | $1,826 | $130,875 | $37,894 | $92,981 |
| 2016 | $1,725 | $125,794 | $36,423 | $89,371 |
| 2015 | $1,703 | $123,905 | $35,876 | $88,029 |
| 2014 | $1,724 | $121,479 | $35,174 | $86,305 |
Source: Public Records
Agents Affiliated with this Home
-
Molly First
-
Cameron Samimi
Seller Co-Listing Agent in 2023
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
(310) 259-7556
1 in this area
187 Total Sales
-
Bobby Sillman
B
Buyer's Agent in 2023
Bobby Sillman
Lyon Stahl Investment Real Estate, Inc.
(310) 230-5478
1 in this area
11 Total Sales
-
Olga Wright
Buyer Co-Listing Agent in 2023
Olga Wright
Lyon Stahl Investment Real Estate, Inc.
(310) 425-9838
1 in this area
95 Total Sales
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB23200108
APN: 5525-011-011
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
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. Properties may or may not be listed by the office/agent presenting the information
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