NOT LISTED FOR SALE

West Hollywood, CA 90046

Estimated Value: $2,601,000 - $6,847,000

18 Beds
2 Baths
2,266 Sq Ft
$1,928/Sq Ft Est. Value

Last Sold July 03, 2023

Last sale price $7,400,000 $3,266 Per Sq Ft

Est. 41% decrease in value since last sale

Current estimated payment $27,254/month

22 Days on Market

Highlights

  • Gated Parking
  • 13,437 Sq Ft lot
  • 4-minute walk to Formosa Park

About This Home

As of July 2023

West Hollywood "game-changer". Once-in-a-lifetime offering of land and RTI plans for 18 spectacular condominium units that will redefine the residential experience in West Hollywood. Once completed we anticipate this to be a "landmark" building in the middle of one of the hottest neighborhoods in the Greater Los Angeles area. Each of the units features 2 bedrooms, 2 baths, walk-in closets, sitting areas seamless outdoor-indoor lifestyles with private patio gardens and rooftop gardens for all occupants. Each unit will have a "house-like" feel, just minutes away from Ralphs, Target, Best Buy, Trader Joe's and some of the best restaurants, bars and boutiques. Centrally located with easy access to Hollywood, Beverly Hills, Central and West Los Angeles. Permits are for 18 incredible condominiums but would also make one of the most talked about apartment buildings. If you're a developer looking for your next project, this one is a winner. Sale is for two contiguous lots APNs 5531-008-015, 016 totaling over 13,400 sq ft of land. Photos are renderings of the proposed building from the architect.

Last Agent to Sell the Property

Lane Aronson

Berkshire Hathaway HomeServices California Properties License #00681193 Listed on: 04/03/2022

Berkshire Hathaway HomeServices California Properties

Co-Listed By

Kirk Hawkins

First Team Real Estate License #01996101

Last Buyer's Agent

Paul Gilbert

Real Estate Source, Inc. License #01359771

Real Estate Source, Inc.

Property Details

Home Type

  • Multi-Family

Lot Details

  • 0.31 Acre Lot

Parking

  • Gated Parking

Home Design

Bedrooms and Bathrooms

  • 18 Bedrooms
  • 2 Bathrooms

Community Details

  • 18 Units

Listing and Financial Details

  • Assessor Parcel Number 5531-008-016

Property Details

Home Type

Multi-Family

Lot Details

0.31 Acres

Listing Details

  • Property Type: Residential Income
  • Style: Architectural
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 0

Interior Features

  • Bedrooms: 18
  • Total Bathrooms: 2.00

Exterior Features

  • Other Structures: Other

Garage/Parking

  • Parking Garage: Gated

Lot Info

  • Assessor Parcel Number: 5531-008-016
  • Lot Size Area: 13437

Multi Family

  • Unit Type: 2106
  • Number Of Units: 18
  • Type Of Units: Condo

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 3, 2022
Closed on
Jun 6, 2023
Sold by
Baccani Family Trust and Baccani Marta E
Bought by
1238-1242 N Formosa Llc
Seller's Agent
Lane Aronson
Berkshire Hathaway HomeServices California Properties
Buyer's Agent
Paul Gilbert
Real Estate Source, Inc.
List Price
$7,000,000
Sold Price
$7,400,000
Premium/Discount to List
$400,000
5.71%
Views
16
Current Estimated Value
$4,369,554

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$3,030,446
Avg. Annual Appreciation
-17.61%
Original Mortgage
$15,618,321
Outstanding Balance
$15,133,562
Interest Rate
6.39%
Mortgage Type
New Conventional
Estimated Equity
-$10,764,008

Purchase Details

Closed on
Oct 19, 2018
Sold by
Lovato Cesar V and Lovato Wilfredi
Bought by
Nela Development 1 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,890,000
Interest Rate
4.4%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 24, 2017
Sold by
Lovato Cesar V
Bought by
Lovato Cesar V and Lovato Wilfredi

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$228,000
Interest Rate
4.3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 11, 2002
Sold by
Lovato Cesar V and Lovato Wilfredi
Bought by
Lovato Cesar

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$295,000
Interest Rate
6.09%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
1238-1242 N Formosa Llc $8,400,000 Chicago Title Company
Nela Development 1 Llc $2,100,000 None Available
Lovato Cesar V -- Title365
Lovato Cesar -- Chicago Title Co
Lovato Wilfredi -- Chicago Title Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 1238-1242 N Formosa Llc $15,618,321
Previous Owner Nela Development 1 Llc $1,890,000
Previous Owner Lovato Cesar V $228,000
Previous Owner Lovato Cesar $295,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
07/03/2023 07/03/23 Sold $7,400,000 +5.7% $3,266 / Sq Ft
04/25/2022 04/25/22 Pending -- -- --
04/21/2022 04/21/22 For Sale $7,000,000 0.0% $3,089 / Sq Ft
04/15/2022 04/15/22 Pending -- -- --
04/03/2022 04/03/22 For Sale $7,000,000 -- $3,089 / Sq Ft
Source: The MLS

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 $51,236 $4,284,000 $4,284,000 --
2024 $51,236 $4,200,000 $4,200,000 --
2023 $28,086 $2,251,621 $1,849,547 $402,074
2022 $26,600 $2,207,473 $1,813,282 $394,191
2021 $26,305 $2,164,190 $1,777,728 $386,462
2019 $16,719 $674,617 $370,286 $304,331
2018 $8,703 $661,390 $363,026 $298,364
2016 $6,645 $484,875 $320,146 $164,729
2015 $6,549 $477,593 $315,338 $162,255
2014 $6,552 $468,238 $309,161 $159,077
Source: Public Records

Agents Affiliated with this Home

  • Lane Aronson

    Seller's Agent in 2023

    Lane Aronson

    Berkshire Hathaway HomeServices California Properties

    (323) 671-1233

    2 in this area

    22 Total Sales

    Lane Aronson
    Section Image
  • Kirk Hawkins

    Seller Co-Listing Agent in 2023

    Kirk Hawkins

    First Team Real Estate

    (720) 226-2754

    5 in this area

    86 Total Sales

    Kirk Hawkins
    Section Image
  • Paul Gilbert

    Buyer's Agent in 2023

    Paul Gilbert

    Real Estate Source, Inc.

    (310) 266-8136

    2 in this area

    9 Total Sales

    Paul Gilbert
    Section Image
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Source: The MLS

MLS Number: 22-142808

The MLS

APN: 5531-008-016

California Los Angeles County West Hollywood

90046

Not Listed for Sale

MultiFamily

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The MLS © 2026 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.
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