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711 Formosa Avenue
Los Angeles, CA 90046
Sold
711 Formosa Avenue
Los Angeles, CA 90046
Sold
This 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.
PROPERTY INFORMATION
| MLS # | SB23195183 | Lot Size | 5,605 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | N/A |
| Price | $ 1,300,000
Price Per SqFt: $ 232 |
DOM | 561 Days |
| Address | 711 Formosa Avenue | Type | Land |
| City | Los Angeles | Sq.Ft. | 5,605 Sq. Ft. |
| Postal Code | 90046 | Garage | N/A |
| County | Los Angeles | Year Built | |
| Bed / Bath | 0 / 0 | Parking | N/A |
| Built In | Status | Closed | |
| Sold Date | 2023-12-29 |
INTERIOR FEATURES
EXTERIOR FEATURES
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,387
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 12/29/2023 | Sold | $1,100,000 |
| 12/18/2023 | Price Change (Relisted) | $1,300,000 (-7.14%) |
| 11/28/2023 | Relisted | $1,400,000 |
| 11/01/2023 | Relisted | $1,400,000 |
| 10/19/2023 | Sold | $1,400,000 |
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Listing provided courtesy of Molly First, Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
