1221 North Formosa Avenue

West Hollywood, CA 90046

$2,290,000
Price
3
Beds
3
Baths
2,150 Sq. Ft.
$1,065 / Sq. Ft.
2,150
Sq. Ft.
$1,065
per Sq. Ft.

Description

One of the last remaining R3 lots ready for development in City of West Hollywood on Formosa. Larger than most lots at 6,755 SF and very lush with mature trees/shrubs or room to add an ADU for a total of 3 units. Located between Santa Monica Blvd and Fountain with a 92 Walkscore for restaurants shopping and dining, near luxury Heimat gym, Trader Joe's and many production studios including Netlfix. Savvy developer or investor can build luxury small lot subdivision SFR/condos. Affordable housing possibilities...One of the last remaining R3 lots ready for development in City of West Hollywood on Formosa. Larger than most lots at 6,755 SF and very lush with mature trees/shrubs or room to add an ADU for a total of 3 units. Located between Santa Monica Blvd and Fountain with a 92 Walkscore for restaurants shopping and dining, near luxury Heimat gym, Trader Joe's and many production studios including Netlfix. Savvy developer or investor can build luxury small lot subdivision SFR/condos. Affordable housing possibilities and AB2097 eligible for limited or reduced parking requirements. No ULA tax. Wide street, easy construction access. Five 3-level townhomes directly next door are currently under construction nearing completion, 18 luxury condos recently broke ground at 1242 N formosa. Home occupied by owner, tenant in back unit, CAN NOW BE DELIVERED VACANT. Seller financing possible. Please call for details.
  1. Listed by Lauren Shepherd • DRE #01895959 • Brokerage DRE #00852111 • Shepherd Realty Group

Property Details for 1221 North Formosa Avenue

Zoning
WDR3B*
Parcel Number
5531007037
Total Units
2.0
Living Area
2150
Source Living Area
Owner
Area
West Hollywood Vicinity (C10)
Vacancy Rate
0
Lot Size Area
6755
LISTING UPDATED: 11/11/2024 01:38 PM

Property Details for 1221 North Formosa Avenue

StatusActive
MLS #24-397077
Days on Market208
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1932
Lot Size0.16 AC / 6,755 SF
CountyLos Angeles County

Building Information for 1221 North Formosa Avenue

Stories-Residences-Year Built1932Building Size-Lot Size0.16 AC / 6,755 SF

Property Information for 1221 North Formosa Avenue

Community / Development
Community / Development
  • Number Of Units: 2
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: 2
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $0
  • Net Operating Income: $.00
  • Gross Income: $0
  • Gross Rent Multiplier: $.00
  • Total Annual Expense: 0
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1551
  • Lot Size Square Feet: 6755
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 2
  • Parking Features: Driveway
Interior Features
Interior Features
  • Levels: One
  • Cooling: Central Air
  • Cooling Type: Air Conditioning, Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: None
  • Common Walls: Attached
  • Laundry: Laundry Area, In Closet
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 05-30-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $.00
  • Unit Actual Rent: $.00
  • Unit Projected Rent: $7,000.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,571.00
  • Unit Actual Rent: $2,571.00
  • Unit Projected Rent: $3,000.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $106,137.00
  • Assessed Improvement Percent: 32.67
  • Assessed Land Value: $218,742.00
  • Assessed Land Percent: 67.33
  • Assessed Total Value: $324,879.00

Property History for 1221 North Formosa Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1221 North Formosa Avenue

Taxable ValueLand$223,116Additions$108,259Total$331,375
Tax Record2024$5,185 ($432 / month)
Home Facts
Total Finished SqFt1,909 SqFtAbove Grade Finished SqFt1,909 SqFtLot Size6,772 SqFtStyleDuplexYear Built1932ZoningWDR3B*CountyLOS ANGELESAPN5531-007-037

Schools near 1221 North Formosa Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 5
Rating
School
Distance
Gardner Street Elementary School
PublicK to 5

Hubert Howe Bancroft Middle School
Public6 to 8

Hollywood Senior High School
Public9 to 12

Melrose Elementary School
PublicK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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1221 North Formosa Avenue is a multi-family home for sale in West Hollywood, CA 90046. This property was listed for sale on May 30, 2024 by Shepherd Realty Group, it's currently listed at $2,290,000. It has been on the market for a total of 208 days and was last sold on March 22, 1990. This listing's school district is Los Angeles Unified School District. Nearby schools include Gardner Street Elementary School, Hubert Howe Bancroft Middle School and Hollywood Senior High School. 1221 North Formosa Avenue is a 3-bed, 3-bath, 2,150 sqft multi-family home built in 1932.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Shepherd Realty Group, Lauren Shepherd, DRE #01895959

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.